In light of Micron Technology's (NASDAQ: MU ) high leverage to the ongoing AI boom, very rapid growth and low valuation, I recommend that investors buy the shares of the memory-chip maker. Also importantly, many on Wall Street appear to be quite bullish on MU stock despite its anemic valuation.
Recently, Zacks.com users have been paying close attention to Micron (MU). This makes it worthwhile to examine what the stock has in store.
The recent meltdown has made several AI bigwigs attractive. Five such stocks are: TSM, NVDA, SMCI, MU, SNOW.
Micron Technology (NASDAQ: MU ) specializes in manufacturing chips, flash memory and solid-state drives. Because they're distracted by international politics, sometimes people forget what Micron does and how innovative the company really is.
Chipmaker Micron Technology (MU) was not spared from the tech sector rotation. The shares hit a record high of $157.53 on June 18, but have since taken a 30% haircut.
SK Hynix is the current leader in HBM memory for AI. But Micron is gaining fast.
Having had a spectacular run since the start of 2023, shares of Micron Technology, Inc. NASDAQ: MU are experiencing their juiciest sell-off in quite a while. Since hitting an all-time high in June, after logging gains of more than 200% in the 18 months previously, they've sunk 30%.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Nvidia and Micron have both received a major boost thanks to the growing adoption of AI. Both companies are solid bets for investors looking to capitalize on the booming AI chip market.
The excitement surrounding artificial intelligence (AI) has been a major driver of the stock market rally this year, with the market value of generative AI estimated to be around $1 trillion.
Recently, the Street loved all things AI
Micron (MU) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).