Bank of America reiterated a Buy rating for Micron Technology. The bank established a $1,550 price target for the stock. Analysts expect efficient AI models, such as Moonshot AI’s Kimi K3, to drive demand for high-bandwidth memory.
Tesla CEO Elon Musk identified Micron as a key supplier during an earnings call. Musk stated that Micron provided Tesla with a significant allocation of memory chips. The agreement featured reasonable terms despite an industry-wide supply crunch and pricing volatility.
The analyst endorsement and customer praise triggered a rise in Micron’s pre-market share price. Market reports continue to highlight a bullish outlook for the memory sector.