Top 10 Semiconductor Stocks to Buy Now

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

No. Of Hedge Fund Holders: 94

Micron Technology Inc. (NASDAQ:MU) designs, manufactures, and sells memory and storage products for various markets globally. The company’s success is built on demand for data processing and storage, which is growing due to AI, cloud computing, and HPC. Therefore, the demand for memory chips is very high for increased AI infrastructure.

Micron Technology Inc.’s (NASDAQ:MU) Q1 2025 earnings call reported revenue of $8.71 billion, exceeding expectations by $11.74 million. The increasing size and complexity of AI models will drive demand for advanced DRAM and NAND storage, creating significant growth potential for memory chipmakers like Micron Technology. At Nvidia’s January CES conference, CEO Jensen Huang also emphasized MU’s HBM as crucial to the Blackwell architecture:

“The [graphics processing unit] in our new GeForce RTX 50 series Blackwell architecture is just a beast. [We’re getting] G7 memory from Micron of 1.8 terabytes per second, twice the performance of our last generation, and we now have the ability to intermix AI workloads with computer graphics workloads.”

The news of AI developed by China would increase the adoption of the company’s technology, as it becomes more accessible. This affordability should drive increased demand for AI chips and related memory solutions. Micron Technology Inc. (NASDAQ:MU)’s share price at the time of writing this article is $92.96 with a consensus on the average twelve-month trading share price at $130.15, an upside of 39.9%.