15 Stocks That Will Benefit From AI

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

EPS Next Year: 57.58%               

Number of Hedge Fund Holders: 96

With a strong EPS growth estimate for the next year and significant hedge fund interest, Micron Technology, Inc. (NASDAQ:MU) secures a spot on our list of the 15 Stocks That Will Benefit From AI.

Barclays’ reaffirmation of its Overweight rating and $140 price target, which reflected optimism regarding improving fundamentals, drove shares of Micron Technology, Inc. (NASDAQ:MU) higher on August 11. MU raised sales guidance to $11.2 billion from $10.7 billion, with gross margins climbing to 44.5%. Resilient shipment volumes and broad-based price strength across the datacenter, PC, and mobile markets helped lift its EPS projection from $2.50 to $2.85.

However, Barclays noted possible demand pull-forward in mobile devices and PCs. Micron Technology, Inc. (NASDAQ:MU) emphasized the growing popularity of its HBM3e 12-hi memory, which is outpacing previous 8-hi models in terms of production volume. The company anticipates that supply will be completely sold by 2026.

Through its Micron and Crucial brands, Micron Technology, Inc. (NASDAQ:MU) creates and markets cutting-edge memory and storage solutions for the data center, PC, mobile, automotive, industrial, and consumer industries worldwide. It is on our list of the Best AI Stocks.

While we acknowledge the potential of MU to grow, 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: 12 Cheap Value Stocks to Buy Now According to Seth Klarman and 13 Hot Oil Stocks to Buy Now.

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