11 Best Data Storage Stocks to Invest in According to Analysts

6. Micron Technology Inc. (NASDAQ:MU)

Average Upside Potential as of March 28: 48.10%

Number of Hedge Fund Holders: 94

Micron Technology Inc. (NASDAQ:MU) designs and manufactures memory and storage solutions, which include DRAM and NAND flash products. It serves diverse markets from data centers and PCs to mobile and automotive applications and provides essential components for high-speed data processing and storage under the Micron and Crucial brands.

On March 16, Baird analyst Tristan Gerra reaffirmed a Buy rating on the company with a $130 price target due to its growth potential in AI-related memory products like HBM and LPDDR5. The company’s data center DRAM revenue hit a record high in FQ2 2025, with HBM revenue exceeding $1 billion, which was up 50% sequentially. The company is the sole high-volume shipper of low-power data center DRAM. It has sold out of 2025 HBM output and is developing HBM4, which boasts a 60% bandwidth increase.

In data center NAND, Micron Technology Inc. (NASDAQ:MU) achieved record market share in calendar Q4 2024. Its 9550 SSD is qualified for NVIDIA’s GB200. It’s producing 150 terabyte DirectFlash modules, which is driving the HDD-to-NAND transition. The company anticipates multibillion-dollar data center NAND revenue in 2025. FQ2 2025 revenue was $8.1 billion, with DRAM revenue at $6.1 billion, which was up 47% year-over-year. NAND revenue was at $1.9 billion, which was up 18%.

Parnassus Value Equity Fund stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q2 2024 investor letter:

“Micron Technology, Inc. (NASDAQ:MU) posted fiscal-third-quarter results that met expectations. Micron’s DRAM (dynamic random access memory) and NAND (non-volatile storage technology) segments grew revenue strongly, continuing the company’s recovery from a cyclical downturn last year. We believe Micron is well positioned to capitalize on AI-driven demand for greater memory.”