12 Most Profitable Tech Stocks to Buy

4. Micron Technology Inc. (NASDAQ:MU)

TTM Net Income as of December 4: $8.45 billion

TTM Net Income Margin as of December 4: 22.84%

Number of Hedge Fund Holders: 105

Micron Technology Inc. (NASDAQ:MU) is one of the most profitable tech stocks to buy. On December 3, Micron Technology announced that it will exit its consumer memory business, including the sale of products under its Crucial brand. This is being done to double down on advanced memory chips used in AI data centers, which is a segment facing a global supply shortage. Micron’s consumer memory unit was not considered a significant driver of the company’s overall business.

Micron will halt the sale of Crucial consumer-branded products at retailers, e-tailers, and distributors worldwide, but product shipments through the consumer channel will continue until the end of its FQ2, which is February 2026. The decision reflects Micron’s commitment to its portfolio transformation, allowing it to focus on core enterprise and commercial segments that offer more secular, profitable growth.

The company is shifting its focus to High-Bandwidth Memory/HBM, a type of Dynamic Random Access Memory/DRAM that involves stacking chips vertically. HBM chips are essential for AI development because they reduce power consumption and help process the large volumes of data required for AI workloads, offering higher prices and more lucrative margins than consumer memory. This segment has become the most competitive area among the world’s three largest memory suppliers: Micron, South Korea’s SK Hynix, and Samsung.

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products in the US, Taiwan, Singapore, Japan, Malaysia, China, India, and internationally.