# Bank of America analyst Vivek Arya nearly doubled its price target on Micron Technology Inc. (NASDAQ:MU) Arya lifted it from $500 to $950 on Wednesday.

*semiconductor · news · 2026-05-13 · Benzinga*

## Key points

- Bank of America nearly doubled its Micron price target to $950 citing structural supply constraints.
- BofA increased its 2030 AI data center systems market forecast to $1.7 trillion, up from $1.4 trillion in February.
- Micron's new supply from its Idaho and Singapore facilities will not meaningfully impact the market before 2028.
- Anthropic's annualized revenue run rate hit $30 billion in April, more than triple December's figure.
- Aggregate cloud capex is projected to reach 95%-100% of cash flow in 2026-2028, far above historical norms.

**Companies:** Nvidia, Amazon.com Inc., Micron Technology Inc., AMD, Marvell, Coherent
**Countries:** United States, Singapore

[Read the full story on Benzinga](https://www.benzinga.com/markets/tech/26/05/52530222/micron-950-price-boost-bofa-raises-nvidia-amd-marvell-coherent)

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