10 Best Performing Data Center Stocks So Far in 2025

7. Micron Technology Inc. (NASDAQ:MU)

YTD Returns: 17.4%

Number of Hedge Fund Holders: 94

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and markets memory and storage products, including dynamic random-access memory (DRAM), flash memory (NAND), solid-state drives (SSDs), and High Bandwidth Memory (HBM) globally. The company is well-positioned to capitalize on technological advancements in AI, 5G, autonomous vehicles, and data centers.

Micron Technology Inc. (NASDAQ:MU) has surged 17.4% in 2025, outperforming the SOX Index by 14.3%. The company reported a remarkable 400% year-over-year and 40% sequential growth in its Q1 2025 (November quarter) data center revenues, which now make up over 50% of the revenue mix. While the bit shipment outlook is weaker for Q2 due to customer inventory adjustments, management anticipates an improvement by spring and an acceleration in bit volumes in the second half of the year.

During the quarter, the company focused on improving yields and capacity, leading to more than a doubling of its HBM revenue sequentially. By 2028, the company expects the HBM total addressable market (TAM) to grow fourfold from the $16 billion level in 2024 and to exceed $100 billion by 2030. Management has also raised the HBM market TAM forecast to now surpass $30 billion in 2025.

Micron Technology Inc. (NASDAQ:MU)’s HBM3E 8-high memory is a key component in NVIDIA’s Blackwell B200 and GB200 platforms. The company is currently scaling up production of its HBM3E 12-high, which offers a 20% reduction in power consumption compared to HBM3E 8-high memory from competitors while delivering 50% greater memory capacity.