11 Best Performing Data Center Stocks to Buy Now

2. Micron Technology Inc. (NASDAQ:MU)

YTD Return: 90.1%

Number of Hedge Fund Holders: 94

Micron Technology Inc. (NASDAQ:MU) is one of the best performing data center stocks to buy now. On September 19, 2025, TD Cowen analyst Krish Sankar raised his price target on Micron to $180 from $150 while maintaining a Buy rating. Sankar believes the stock can extend its recent outperformance, with momentum supported by average selling price (ASP) trends, even as he sees limited scope for further multiple expansion and expects growth to be driven primarily by book value.

Micron is scheduled to report its Q4 FY25 results on September 23, with most previews leaning positive following the stock’s nearly 90% year-to-date rally.

However, some analysts remain cautious and Morgan Stanley’s Joseph Moore is the most prominent among them. On September 17, 2025, he said that investor sentiment is mixed and characterized Micron as a “noisy story”. Despite this, he sees potential for shares to climb further on renewed interest in high-bandwidth memory (HBM).

Moore also pointed to structural challenges, including the risk of DRAM oversupply if excess wafer capacity persists, and questioned whether HBM growth projections might outpace processor revenue. He flagged execution risk as Micron works to improve yields and scale production.

Nevertheless, he concluded that Micron is well-placed, with long-term demand drivers in AI and data center growth supporting the investment case.

Micron Technology Inc. (NASDAQ:MU) is a leading provider of memory and storage solutions, including DRAM, NAND, and high-bandwidth memory.