Warren Buffett Disciple Guy Spier’s 10 High Conviction Stock Picks

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

Value of Aquamarine Capital Management’s 13F Position (6/30/2024): $26.3 million

Number of Hedge Fund Shareholders (3/31/2024): 115

Micron Technology, Inc. (NASDAQ:MU) is a hot commodity among smart money investors right now, with their ownership of the memory and storage products company jumping by 24% in the first quarter to hit a 10-year high. Guy Spier’s been on the Micron bandwagon much longer, holding a 200,000-share position in the stock since the final quarter of 2020 (it held 120,000 shares for a year prior to that). Spier’s stake has risen from $15 million in value at the end of 2020 to $26.3 million at the end of June 2024.

Micron Technology, Inc. (NASDAQ:MU) is ramping up its production of high bandwidth memory (HBM) storage solutions, which are poised to inject a shot of margin and income upside into the company’s balance sheet, given they’re DRAM and gross margin accretive. Micron began to ship HBM products in greater numbers during its fiscal Q3, with over $100 million in sales. That figure is expected to push into the billions in FY2025, with the company having already sold out of its HBM stock through the end of the 2025 calendar year.

ClearBridge Value Equity Strategy pointed out some of Micron Technology, Inc. (NASDAQ:MU)’s biggest market opportunities in its Q2 2024 investor letter:

“Stock selection in the IT sector proved to be the largest contributor to performance, particularly driven by the strong performance of Micron Technology, Inc. (NASDAQ:MU) The company, which designs, develops, manufactures and sells memory and storage products, continued its strong performance alongside other AI beneficiaries as the anticipated demand for new and additional storage essential for housing and training large language AI models continues to grow.”