10 AI Stocks on Wall Street’s Radar

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

Number of Hedge Fund Holders: 94

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. On May 15, Christopher Danely from Citi maintained a “Buy” rating on the stock with a price target of $110.00.

A few days prior, J.P. Morgan analyst Harlan Sur maintained their bullish stance on the stock, giving a Buy rating on April 30. Sur’s buy rating stems from Micron’s strong growth potential and robust market position. In particular, the demand for its DRAM and NAND products is a strong catalyst in the datacenter sector. A pricing inflection has also been observed, which is pointing to favorable market conditions.

The company is also witnessing strong demand for its high-bandwidth memory (HBM) and datacenter SSD products, crucial for AI and accelerated computing applications. Micron’s technology and manufacturing advancements are also progressing well, reflecting upon its efficient execution and cost management.