35 Trending AI Stocks on Latest News and Analyst Ratings

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9. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 120   

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. Sanjay Mehrotra, the CEO of the firm, said during the fourth quarter earnings call that the firm was focused on translating the opportunities from AI demand into value capture for all stakeholders. Per the executive, demand from data center customers continued to be strong and customer inventory levels were healthy. Industry server unit shipments were expected to grow in the mid- to high single-digit percentage range in calendar 2024, driven by strong growth for AI servers as well as low single-digit percentage range growth for traditional servers. The CEO also saw increasing DRAM and NAND content both in traditional as well as AI servers. He highlighted that the mix of data center revenue for the firm reached a record level in fiscal 2024 and would grow significantly in fiscal 2025.

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