7 Cheap Global Stocks to Buy Right Now

3. Micron Technology Inc. (NASDAQ:MU)

Forward P/E ratio as of February 24^th: 8.72x

Number of Hedge Fund Holders: 94

Micron Technology Inc. (NASDAQ:MU) is a key player in the semiconductor industry, specializing in memory and storage solutions that power everything from data centers to consumer electronics. As one of the world’s largest suppliers of DRAM and NAND flash memory, MU benefits from growing demand for high-performance computing, AI, and cloud infrastructure. The company operates in a highly cyclical market, where pricing dynamics and supply chain shifts can impact margins. The US-based company ranked 7th on our recent list of 10 Hot AI Stocks to Buy Now.

Micron Technology Inc. (NASDAQ:MU) issued optimistic guidance for the following months as it expects revenue growth in the fiscal 3Q, though gross margins are projected to be lower by a few hundred basis points sequentially due to higher consumer-oriented mix and weaker NAND conditions. The company anticipates improvements in client and smartphone inventory levels, expecting them to reach healthy levels by spring, along with continued content growth in PC and smartphone segments through calendar 2025. In the High Bandwidth Memory segment, MU is progressing well with its 12-high stack product, which offers 20% less power than competitors’ 8-high stack while providing 50% more capacity. The company maintains a strong position in data center demand for DRAM, though its data center eSSD segment is experiencing a temporary digestion period.

Looking ahead, management expects industry conditions to support improved margins beyond fiscal Q3, with positive indicators including stronger bit shipments and improving inventory levels. Micron Technology Inc. (NASDAQ:MU) is seeing a significant content uplift in AI-related devices, with smartphone content increasing by over 50% for AI-related devices and PC refresh cycles showing 16 gigabyte minimums. In the NAND market, while current conditions remain challenging, MU anticipates better market conditions in the second half of the calendar year, supported by improving inventory levels and industry supply responses. At the same time, MU trades at a cheap 8.72x forward P/E, which is near the bottom of the last twelve months’ range. It is among the best cheap global stocks to invest in.