Bank of America reiterates its buy rating on Micron (MU), with a target price of $1550, which is approximately 61% higher than the stock price of $963. SanDisk expects an average annual growth rate of nearly 15% in future sales, with a gross profit margin of over 80% by the fiscal year 2030. Bank of America expects Micron's earnings per share for FY30 to reach $200 to $250, with the potential for a price to earnings ratio of 12 to 15 in the future. Bank of America expects Micron's free cash flow over the past 12 months to exceed $80 billion after the expiration of restrictions related to the CHIPS Act on December 9, 2026. Micron needs to pay attention to whether the high gross profit margin can be sustained, whether the management can implement the capital return plan, as well as HBM demand and price trends in the future.
