Woofun AI reports that Bank of America Securities has reaffirmed its "Buy" rating on Micron, sustaining a price target of $1,550. The bank characterizes the recent semiconductor sector pullback as a standard market adjustment rather than an indication of declining AI demand, noting historical patterns where summer consolidation precedes autumn rebounds. BofA projects global cloud and AI infrastructure capital expenditures will reach $1.5 trillion by 2027, marking a 40% to 50% increase from current levels. Driven by persistent demand for HBM, DDR5, and enterprise storage from AI servers, the memory sector is expected to benefit significantly, with Micron identified as the most attractive investment option.