Top 10 Undervalued Tech Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Investors: 107

Forward P/E Ratio as of January 13: 13.26

Micron Technology, Inc. (NASDAQ:MU) is a global leader in memory and storage solutions, including DRAM, NAND, NOR flash memory, and solid-state drives (SSDs). The company provides products to customers in the data center, PC, graphics, networking, and automotive markets.

Micron Technology, Inc. (NASDAQ:MU) is at the forefront of developing high-bandwidth memory (HBM) and low-power DDR5X (LPDDR5X) solutions, which are critical for advanced computing and data center applications. The company is investing in facility expansions of its HBM capacity, with the goal of achieving natural bit share in the second half of 2025. This includes investments in front-end fabs, assembly, test processes, and cleanroom capabilities. Micron Technology, Inc.’s (NASDAQ:MU) HBM3E and 12-high HBM products are in high demand.

Additionally, Micron Technology, Inc. (NASDAQ:MU) is expanding its facilities with a new investment in India, to support its back-end operations. These investments are crucial for sustaining the company’s leadership in advanced memory technologies and ensuring that it can meet the growing demand from data centers, AI, and other high-growth segments.

While we acknowledge the potential of Micron Technology, Inc. (NASDAQ:MU) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. 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.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

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