Coatue’s 35 Most Important AI Stocks

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9. Micron Technology (NASDAQ:MU)

Number of Hedge Fund Holders: 107   

Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The report for the fiscal year 2024 shows a promising picture of the company’s portfolio, making it a lucrative choice for investment. For instance, the company reported a revenue of $25.11 billion versus $15.54 billion for the prior year and GAAP net income of $778 million, or $0.70 per diluted share. This demonstrates a strong revenue growth driven by increased sales, market demand, and expansion into new areas. Also, Micron plans to invest $50 billion in gross capex for US domestic leading-edge memory manufacturing with the support of a $6.1 billion CHIPS grant through 2030. These facilities would create 75,000 US jobs, build supply chain resilience, and ensure US economic and national security.

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