BAC · News · 20260805N

AI Infrastructure Demand

BANK OF AMERICA CORP /DE/ · 2026-08-05 · Importance 7 · Surprise 6

Bank of America views Micron Technology’s current fundamentals as strong, driven by cloud and AI infrastructure demand. The analysis cites sustained GPU and high-bandwidth memory (HBM) utilization and increased long-term supply agreements as supports for demand visibility. BofA expects Micron’s earnings could remain well above historical peaks even during a downturn, although memory prices may normalize in 2027–2028. The analyst also argues that multi-year supply agreements and sustained AI demand differentiate the current memory cycle from prior downturns, despite concerns about increased competition from China.

Key facts

• Bank of America Corp DE sold 10,093 shares of Credo Technology Group Holding Ltd., and Credo reported strong revenue growth and an earnings beat driven by its AI connectivity solutions. source
• Bank of America analysts have raised their price target for Goldman Sachs to $1,300, citing potential benefits from the AI boom. source