20 Trending AI Stocks on Latest News and Ratings

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

Number of Hedge Fund Holders: 120

Micron Technology, Inc. (NASDAQ:MU) is a global leader in innovative memory and storage solutions. In the fourth quarter earnings call, CEO Sanjay Mehrotra highlighted the firm’s commitment to converting AI demand into stakeholder value. He reported strong data center demand, healthy inventory levels, and projected mid- to high single-digit growth in server shipments for 2024 that are driven by AI servers and modest growth in traditional servers. Additionally, he noted an increase in DRAM and NAND content in both server types.

Analyst Joseph Moore from Morgan Stanley maintained a Hold rating on Micron (MU) with a price target of $114. He highlighted a mix of factors influencing Micron’s outlook, including concerns about the memory cycle. However, Micron is optimistic about its competitive position by 2025. The company’s revenue nearly doubled to $7.75 billion in fiscal Q4, exceeding analysts’ expectations. CEO Sanjay Mehrotra attributed the growth to strong demand for AI, stating that the company is entering fiscal 2025 with its strongest competitive position ever.

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