Micron Reclaims $1,000 as BofA Sees Fiscal 2030 EPS Reaching $250
Updated
Updated · Yahoo Finance · Aug 18
Micron Reclaims $1,000 as BofA Sees Fiscal 2030 EPS Reaching $250
3 articles · Updated · Yahoo Finance · Aug 18
Summary
Micron rose 4.1% to $1,011.75 on Monday, closing above $1,000 for the first time since July 2 and extending its winning streak to five sessions.
Bank of America named Micron a top pick, arguing record memory demand could drive fiscal 2030 EPS to $200-$250, far above the current peak consensus of $160-$170.
Memory stocks rallied with it: SanDisk jumped nearly 9% for a sixth straight gain, Western Digital added 5.4%, Seagate rose 2.2%, and the Roundhill Memory ETF climbed 5.4%.
Strong cloud growth and record Big Tech data-center spending are fueling the rebound, building on last week's SanDisk-led surge and fresh warnings that AI memory supply remains tight.
A further catalyst could come by Aug. 21, when Apple faces a U.S. Senate deadline to answer pressure over buying Chinese memory chips, a potential tailwind for U.S. suppliers.