Bank of America expects that by fiscal 2030, Micron Technology’s (NASDAQ: MU) earnings per share will exceed $230, more than double current Wall Street forecasts.
BofA reiterated a “Buy” rating and a $1550 price target on Micron, and recently added the stock to its US 1 list.
BofA also noted that recent earnings reports from CoreWeave (CRWV) and Nebius (NBIS) show that the “neo-cloud” sector is benefiting from “increasingly favorable pricing dynamics.” The bank raised its price target on Nebius to $310 from $280, reiterating a “Buy” recommendation after the company reported Q2 results and reaffirmed its target for connected power capacity of 800 MW–1 GW by the end of 2026. BofA left its price target on CoreWeave unchanged at $140, citing ambitious long-term capacity expansion goals (such as reaching 8 GW by 2030).