Bank of America: AI Demand Outlook Extended to 2028, Limited Risk of Oversupply in Semiconductor Market

BlockBeats News, June 24th, Bank of America released a report stating that the visibility of AI's demand for the semiconductor industry has extended to 2028, and raised its forecast for the global semiconductor market to $27 trillion by 2030. The report predicts that the DRAM and NAND supply-demand ratio will continue to be above 110% until 2028, with no substantial risk of oversupply; the HBM market size is expected to grow from about $35 billion in 2025 to about $246 billion in 2030.

At the same time, Semiconductor Equipment (WFE) spending is expected to reach $250 billion by 2028, a 23% increase from previous forecasts. Based on the above analysis, Bank of America has raised Micron's target price from $950 to $1500.