18 Trending AI Stocks on Latest Analyst Ratings and News

Page 5 of 16

12. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 120 

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The company has benefited from the rise in capex on AI in recent months, having sold out chip and high-bandwidth memory production till 2025. These products are needed for building complex AI data centers that power AI software features around the globe. The company is a supplier of components to prominent AI firms like NVIDIA and Apple, two of the top ideas in the AI space, according to consensus opinions on Wall Street. After surging to record highs, the share price has pulled back in recent weeks, providing shrewd investors with a buying opportunity based on strong fundamentals and AI demand.

Investment advisory Citi has a Buy rating on Micron Technology (NASDAQ:MU) stock with a price target of $175. In a recent investor note, the advisory claimed that a little bit of inventory has built up in the PC and wireless supply chains. Per the advisory, Micron would end up increasing inventory, which added risk to near-term estimates, even as DRAM upturn continues with upside from Samsung and Hynix.

Page 5 of 16