10 Best Stocks to Buy and Hold For 5 Years

6. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 120

Micron Technology, Inc. (NASDAQ:MU) ranks sixth on our list of the best stocks to buy and hold for 5 years. Its primary offerings include memory and storage products for computers, consumer electronics, artificial intelligence use cases, servers, and automobiles.

Speaking of artificial intelligence, on October 15, Micron Technology, Inc. (NASDAQ:MU) launched a new portfolio of memory solutions that are capable of fueling the new wave of AI PCs. Its corporate vice president, Dinesh Bahal, stresses the need for a memory paradigm shift as AI takes flight. To align with his stance, Micron is working relentlessly to meet the need for future AI workloads.

Following its fiscal fourth quarter 2024 results, Micron Technology, Inc. (NASDAQ:MU) raised its guidance for the next quarter and fiscal year 2025. On September 26, William Kerwin, analyst of technology at Morningstar Equity, appeared in an interview on Yahoo Finance, to discuss his thesis on MU. He shares that the company’s earnings results “were nothing short of impressive.” He adds that the company is currently undergoing a “cyclical upswing” in memory demand which he expects will continue in 2025.

Micron Technology, Inc. (NASDAQ:MU) is shifting its complete focus to meeting the demands for artificial intelligence and data center customers, two of the fastest-growing industries at the moment. The company expects demand for AI servers to continue to increase, positioning it as a major player in AI.

Baird Chautauqua International and Global Growth Fund stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q3 2024 investor letter:

“After Micron Technology, Inc.’s (NASDAQ:MU) price appreciated 54% in 1H24, investors became anxious about potential memory weakness, less clear cyclical recovery pace, and whether competitor Samsung will act rationally with capacity expansion. We maintain our long-term positive view on the industry’s demand/supply situation. We believe Micron is well positioned in technology capability, and that its margins will continue to improve.”