Quick Read – Bank of America’s Vivek Arya raised his Micron stock price target to $1,550, with SanDisk and Western Digital surging alongside on the same AI memory thesis. – The DRAM ETF is rebounding with the group, while Intel’s Thursday earnings could confirm or crack the…
perscaler capex thesis driving the rally. – UBS projects that Micron could repurchase over 40% of its shares and generate $400 billion in free cash flow through 2028. – Memory stocks are extending their rebound Tuesday morning, with SanDisk (NASDAQ:SNDK) up 8% to $1,504, Western Digital (NASDAQ:WDC) up 9% to $531, and Micron Technology (NASDAQ:MU) up 7% to $923. Today’s gains build on a July 20 session in which the same names rose 4% to 6%, turning a summer pullback into a two-day rebound for the group
The specific catalyst on the tape today belongs to Micron. Bank of America analyst Vivek Arya raised his Micron price target to $1,550 from $1,500 and reiterated Buy. SanDisk and Western Digital are riding the broader memory tape and a constructive UBS note.
Bank of America Fuels the Micron Leg Arya characterized Micron’s latest quarter as “another memorable beat,” pointing to the company’s eighth straight quarterly EPS beat, which topped consensus by 24%. He framed the recent chip pullback as a “summer reset.” The Bank of America note pegs the high-bandwidth memory (HBM) opportunity at $246 billion by 2030 and global semiconductor sales at $2.7 trillion by 2030. Micron has locked in 16 multi-year Strategic Customer Agreements, including a supply-and-investment partnership with private AI lab Anthropic.