20 Trending AI Stocks on Latest Analyst Ratings and News

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12. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 120 

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The shares have rallied since the company posted fourth-quarter results and guidance for the first-quarter of fiscal 2025 that were above expectations as demand for artificial intelligence continued to rise. In the fourth fiscal quarter, the memory maker earned an adjusted $1.18 per share as revenue rose over 93% year-over-year to come in at $7.75 billion. Adjusted gross margin came in at 36.5% during the period, well above the 34.7% consensus estimate. Cash flow from operations during the quarter was $3.41 billion. Analysts were expecting the company to report adjusted earnings of $1.11 per share on $7.64 billion in revenue.

Sanjay Mehrotra, the CEO of Micron Technology (NASDAQ:MU) said during the earnings call that the company was entering fiscal 2025 with the best competitive positioning in history, forecasting record revenue in fiscal Q1 and a substantial revenue record with significantly improved profitability in fiscal 2025. In the months ahead, Micron expects revenue for the first-quarter to be between $8.5 billion and $8.9 billion, and expects to earn between $1.66 and $1.82 per share on an adjusted basis.

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