10 Cheap Semiconductor Stocks to Buy Now

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

Number of Hedge Fund Holders: 94

P/E: 13.16

Micron Technology, Inc. (NASDAQ:MU) is a global leader in memory and storage technology, fueling the performance and capacity of data centers and mobile devices to embedded systems and AI infrastructure. With decades of DRAM, NAND, and emerging memory innovation, Micron is a driving force in the world’s digital economy. It is among the best cheap semiconductor stocks to invest in.

Micron Technology, Inc. (NASDAQ:MU) has rallied 19.54% in the last week, driven by positive analyst opinion and tactical business restructuring. Wells Fargo and Citi analysts both have “Buy” ratings on the stock, with a median price target of $130, implying almost 63% potential upside. Institutional holders own more than 83% of shares, indicating robust confidence in Micron’s long-term growth narrative.

On April 17th, Micron Technology, Inc. (NASDAQ:MU) issued a far-reaching business unit reorganization to more fully seize opportunities fueled by the AI boom, from hyperscale data centers to edge devices. The restructuring is intended to cut through complexity and hasten innovation in key end markets.

Micron Technology, Inc. (NASDAQ:MU) has also secured its technological leadership and is the first company globally to ship HBM3E and SOCAMM memory solutions for AI servers in collaboration with NVIDIA. These offerings will be a part of next-generation AI systems like NVIDIA’s Hopper and Blackwell platforms.

Financially, Micron Technology, Inc. (NASDAQ:MU) reported $25.11 billion in annual revenue (61.6% year-over-year increase) and $778 million in net income (113.3% increase). Although there was a slight quarter-over-quarter decline, the trend is firmly positive. With innovative products, AI tailwinds, and strong execution, Micron is positioned for long-term growth in the new tech cycle.

Overall, Micron Technology, Inc. (NASDAQ:MU) ranks first among the 10 cheap semiconductor stocks to buy now. While we acknowledge the potential of semiconductor stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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