10 Cheap Technology Stocks to Buy According to Hedge Funds

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

Forward P/E: 12.76

Number of Hedge Fund Holders: 94

Micron Technology, Inc. (NASDAQ:MU) is an American company that specializes in innovative memory and storage solutions. Through its Micron and Crucial brands, the company offers high-performance DRAM, NAND, and NOR memory and storage products. Micron Technology, Inc. (NASDAQ:MU) has a complete portfolio of memory and storage technologies and serves a diverse range of clients in various industries, including artificial intelligence (AI), data center, mobile, industrial, consumer, automotive, and networking markets.

The company is strategically positioning itself to meet the rising demand for advanced memory and storage solutions fueled by AI growth. Micron Technology, Inc. (NASDAQ:MU) is building a new High-Bandwidth Memory (HBM) advanced packaging facility in Singapore. This facility will be the first of its kind in the country. The company plans to invest approximately $7 billion through the end of the decade with an aim to support the growing demand for AI-driven technologies. The facility is scheduled to begin operations in 2026, with capacity expansion planned for 2027. As AI adoption proliferates across industries, Micron Technology, Inc. (NASDAQ:MU) will be looking to address the rising demand for advanced memory and storage solutions.

Overall, MU ranks first among the 10 cheap technology stocks to buy according to hedge funds. While we acknowledge the potential of cheap tech stocks, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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