13 Best Big Tech Stocks To Buy Now

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

Number of Hedge Fund Holders: 120

Micron Technology, Inc. (NASDAQ:MU) is another semiconductor company on our list. It offers memory and storage tech, such as DRAM semiconductor devices, among others.

While Micron Technology, Inc. (NASDAQ:MU) has performed well in the fiscal third quarter of 2024 by generating revenue of $6.8 billion and operating cash flow of $2.5 billion, the stock is facing some challenges. Recently, it was hit by two price-target cuts from Raymond James and Exane BNP Paribas, both of which resulted in the stock decline during the second week of September.

Despite this, Micron Technology, Inc. (NASDAQ:MU) is still expected to benefit from industry tailwinds in smartphone, PC, and data center growth. The company has huge potential for growth, particularly because of robust AI demand that has propelled its sequential revenue growth to 17% and has allowed Micron Technology, Inc. (NASDAQ:MU) to gain market share in high-margin products such as High Bandwidth Memory.

Micron Technology, Inc. (NASDAQ:MU) was spotted in the 13F holdings of 120 hedge funds in the second quarter, with a total stake value of $5.2 billion.