12 Best Data Storage Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 105

Market Capitalization: $473.78 billion

On February 10, Deutsche Bank raised its price target on Micron Technology, Inc. (NASDAQ:MU) to $500 from $300 and maintained a Buy rating, citing tightening DRAM supply conditions and elevated memory pricing. The firm projects that industry shortages could persist through 2027 and into 2028, fostering a structurally more favorable profitability environment for memory manufacturers.

In its fiscal first-quarter 2026 earnings call, Micron Technology, Inc. (NASDAQ:MU) reported revenue of $13.6 billion, up 21% sequentially and 57% year over year, marking its third consecutive quarterly revenue record. Gross margin expanded to 56.8%, an 11-percentage-point sequential improvement, and the company generated record free cash flow of $3.9 billion. All business units achieved record revenue levels, including Cloud Memory at $5.3 billion, Core Data Center at $2.4 billion, Mobile and Client at $4.3 billion, and Automotive and Embedded at $1.7 billion. Robust demand across end markets, combined with margin expansion and strong cash generation, positions Micron to benefit disproportionately from sustained supply constraints and secular AI-driven memory demand.

Headquartered in Boise, Idaho, Micron Technology, Inc. (NASDAQ:MU) is a leading U.S. semiconductor manufacturer specializing in DRAM, NAND flash memory, and solid-state storage solutions, serving data center, AI, automotive, and mobile markets.

While we acknowledge the potential of MU as the best data storage stock to buy right now, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MU and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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