BofA says Micron’s memory demand story still holds up

The AI memory party isn’t over

Bank of America is sticking with the idea that Chinese open LLMs won’t meaningfully dent memory demand — and that’s good news for Micron. If you were worried that cheaper AI models might somehow shrink the need for chips and memory, BofA’s message is basically: not so fast.

Why this matters for your MU shares

Micron has been riding the AI-memory wave, and analysts are still treating that theme like the main character. The logic is pretty simple:

• More AI usage still means lots of data movement
• Lots of data movement still means lots of memory demand
• And that keeps the bullish setup for DRAM and NAND from getting knocked off course

So even if the model circus gets more crowded in China, BofA thinks the memory market doesn’t suddenly lose its appetite. That’s the kind of note that can keep investors leaning into MU instead of treating every new AI headline like a threat.

Big picture

This is less about one flashy product launch and more about the broader AI supply chain staying hot. If BofA is right, Micron’s demand story keeps running — and for a chip stock, that’s the kind of backdrop people pay up for.