S&P Global Ratings raised Micron Technology to BBB+ with a positive outlook, adding to a series of upgrades as demand for artificial-intelligence technologies improves the memory-chip maker's financial performance. Bank of America reiterated its buy rating and $1,550 price target in August, about 61% above the $963 share price used in its report, after citing SanDisk's long-term growth targets as a framework for a possible valuation re-rating at Micron. S&P identified high-bandwidth memory (HBM), specialized memory used by AI accelerators, as a key contributor to Micron's results. The company competes with Samsung and SK Hynix in HBM and is one of the world's three major DRAM and NAND manufacturers. S&P had raised Micron from BBB- to BBB in February 2026, Fitch Ratings upgraded it to BBB+ with a stable outlook in May, and S&P later reaffirmed its BBB rating with a positive outlook that month. Micron also reported substantial year-over-year growth in fiscal Q1 2026, driven primarily by AI product demand. BofA said Micron could achieve FY30 earnings per share of $200 to $250 and potentially trade at 12 to 15 times earnings if it sustains strong growth and margins, while higher credit quality could lower borrowing costs, broaden institutional investor access and support investment in next-generation manufacturing capacity. The bank also said Micron may increase share buybacks after CHIPS Act-related restrictions expire on Dec. 9, 2026, when trailing 12-month free cash flow could exceed $80 billion in theory.