The recent surge in artificial intelligence (AI) stocks has been dampened by the Trump administration’s tariffs on goods imported into the US, largely affecting China. Despite this, Micron Technology (NASDAQ:MU), a leading manufacturer of memory and storage products, continues to perform well.
With 94 hedge fund holders and 18 billionaire investors backing it, MU has delivered impressive revenue numbers in its latest earnings report. The company achieved record revenue in data center DRAM during fiscal Q2, with HBM revenue exceeding $1 billion for the first time. Micron’s leadership in low-power DRAM is attributed to strong product momentum, driving growth in both data center and other markets.
For fiscal Q3, Micron forecasts revenue of $8.8 billion, with a gross margin of 36.5%. Despite concerns surrounding the tariff situation, MU remains a top pick among AI stocks, ranking 13th on our list of best AI stocks to buy according to billionaires. However, its valuation at 4.7 times earnings is relatively high compared to some other promising AI stocks.
Investors seeking more promising AI stocks with lower valuations can explore our report on the cheapest AI stock, which has seen significant growth since the beginning of 2025. By imitating top hedge fund picks, our quarterly newsletter has returned 373.4% since May 2014, outperforming its benchmark by 218 percentage points.
Source: https://finance.yahoo.com/news/micron-mu-hits-record-hbm-190029277.html