8 Stocks That Could 10X Over the Next 3 Years

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

Analyst Upside as of November 18, 2024: 51%

Micron Technology, Inc. (NASDAQ:MU) ranks first on our list of the stocks that could 10x over the next three years. Its primary offerings include memory and storage products for computers, consumer electronics, artificial intelligence use cases, servers, and automobiles.

Speaking of artificial intelligence, on October 15, Micron Technology, Inc. (NASDAQ:MU) launched a new portfolio of memory solutions that are capable of fueling the new wave of AI PCs. More recently on October 23, the company was added to the NVIDIA recommended vendor list for its new data center SSDs. On the chips front, the company launched the world’s fastest and most energy-friendly SSD on November 12, enhancing MU’s overall position in the sector.

During the fiscal fourth quarter of 2024, the company generated revenue worth $7.75 billion. The company increased its revenue by 93% year-over-year during the quarter, as strong AI demand fueled growth in its data center DRAM and memory products. Following its Q4 results, the company raised its guidance for the first fiscal quarter and the complete fiscal year of 2025.

Micron Technology, Inc. (NASDAQ:MU) is shifting its complete focus to meeting the demands for artificial intelligence and data center customers, two of the fastest-growing industries at the moment. The company expects demand for AI servers to continue to increase, positioning it as a major player in AI. Analysts are also bullish on the stock and their median price target of $145 implies an upside of 51% from current levels.

While we acknowledge the potential of MU to grow, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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