10 Stocks That Could Skyrocket After Jensen Huang’s Earnings Call

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

Micron Technology, Inc. is a storage and memory products developer, designer, manufacturer, and seller. It operates in four segments; Mobile Business Unit, Storage Business Unit, Compute and Networking Business Unit, and Embedded Business Unit. The company distributes its products through independent sales representatives, retailers, direct sales forces, and distributors. The stock got attention recently after Citi maintained its Buy rating and target price of $150 after the company’s 3rd quarter update.

During the Wolfe conference, the company presented important updates related to its FQ3 performance. It lowered its expected gross margins by a few percentage points. According to the CFO, the company expects to clear its current inventory by spring.

Micron saw a significant increase in its revenue as it grew by 84% YoY. The operating income and gross profits also increased. This significant upswing in earnings is supported by strong demand for chips. Though the stock is struggling currently, its unique moat as a supplier of memory products to the semiconductor industry makes it an attractive buy. Currently, GPUs are constrained by bandwidth which means any technological innovation on Micron’s part could significantly alter the future of computing.