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BofA: Semiconductor Pullback is a Healthy Correction, Reiterates 'Buy' Rating on Micron
3 hour ago /
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Author：小编
BofA Securities stated that the recent pullback in semiconductor stocks is a normal correction and not indicative of weakening AI demand. Semiconductor stocks often consolidate in the summer and rebound in the fall. It is projected that by 2027, global capital expenditures on cloud computing and AI infrastructure will approach US$1.5 trillion, representing a 40% to 50% increase from current levels. The firm believes that the memory industry remains a key beneficiary of the AI investment wave, with clear room for valuation recovery. It reiterates its 'Buy' rating on Micron, maintains a target price of US$1,550, and describes it as the most attractive investment target in the memory industry.
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