Bank of America Bullish on Micron, Marvell, and AMD to Ride AI Chip Demand Wave

• Micron (MU), Marvell (MRVL), and AMD (AMD) named by Bank of America as AI plays that could benefit from rising sector demand • Micron price target raised on growth potential of high bandwidth memory (HBM) products for AI • Demand for Micron's HBM expected to grow at 48% CAGR between 2023-2027 • Micron projected to expand HBM market share to mid 20% range from 5% currently • Microsoft and OpenAI reportedly planning to invest up to $100 billion in AI data center, fueling chip stock gains