10 Best Very Cheap Stocks To Buy Right Now

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

P/E Ratio: 13.55

Average Analysts Upside: 26.11%

Micron Technology, Inc. (NASDAQ:MU) designs, manufactures, and sells memory and storage products worldwide. The company offers DRAM, NAND flash memory, and other storage solutions under the Micron and Crucial brands, serving markets for data centers, PCs, graphics, networking, automotive, industrial, and mobile devices. Micron’s memory chips are its strong suit and an essential component of the AI boom. The company’s high-bandwidth memory (HBM) chips are especially suited to AI uses.

In February 2024, Micron Technology, Inc. (NASDAQ:MU) partnered with NVIDIA to provide its HBM3e chips to use in its AI-capable semiconductors. Lately, Micron’s HBM4 was allocated for use in NVIDIA’s upcoming Rubin platform. MU states that its HBM chips can match or exceed the performance of its peers while consuming 30% less power. This adds to the company’s competitive edge in the growing AI chip manufacturing market.

On February 12, Citi analysts reiterated MU stock with a Buy rating and kept the target price at $150. The firm remains positive on Micron Technology, Inc.’s (NASDAQ:MU) prospects. The company’s capabilities in AI High-Bandwidth Memory (HBM) and the potential in this segment provide a growth opportunity for MU. The analyst also cited the DRAM market’s recovery as a key factor in the company’s optimism.