20 AI News and Analyst Ratings You Should Not Miss

11. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 120 

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The stock has soared in the past few weeks after the company announced in an 8K filing that it may resume share repurchases. In the filing, the firm detailed that the repurchases would help offset dilution from employee stock purchase programs. Micron is one of the strongest players in the AI space with double digits growth rate in revenue and earnings per share and a memory capacity that has sold out until 2025. Many hyperscalers rely on Micron memory products, including tech giant Apple.

Investment advisory Citi recently penned a research note on Micron Technology (NASDAQ:MU), noting that based on many conversations with investors this week, estimates suggested that roughly 80% of investors were bearish on the semi firm ahead of the release of the earnings report next week. The note highlighted that every hedge fund Citi spoke with was negative while a few mutual funds were positive on the upcoming earnings print. The analysts at Citi believed the expectations for November quarter guidance from buy-side investors were roughly in line or slightly below newly revised estimates of $8 billion on revenue and $1.24 earnings per share, which was mid-single digit quarter-over-quarter growth.