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Bank of America: Semiconductor pullback is a healthy correction, reaffirms "Buy" rating on Micron

MarsBitNews
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Mars Finance reported that Bank of America Securities' latest semiconductor industry report indicated the recent pullback in semiconductor stocks is a normal market correction, not a signal of weakening AI demand. Historical experience shows that semiconductor stocks often consolidate during the summer, and after profit-taking and valuation corrections are completed, a new round of rebound typically emerges in the autumn. The report estimates that by 2027, global cloud computing and AI infrastructure capital expenditure will approach $1.5 trillion, an increase of about 40% to 50% from current levels. On memory chips, the bank believes that as demand for HBM, DDR5, and enterprise storage continues to expand, coupled with AI servers driving demand for DRAM and NAND Flash, the memory industry remains a key beneficiary of the AI investment wave, with clear room for valuation recovery. The bank reiterated its "buy" rating on Micron, maintaining a target price of $1,550, stating that the company remains the most attractive investment target in the memory industry today. (CLS)
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