5 Best Data Center Stocks to Buy in July

3. Micron Technology Inc. (NASDAQ:MU)

Market Capitalization: $1.06 trillion

Number of Hedge Fund Holders: 154

Micron Technology Inc. (NASDAQ:MU) is one of the 10 Best Data Center Stocks to Buy in July. On July 6, TipRanks reported that Bernstein analyst Mark Li reiterated a Buy rating on Micron while setting a price target of $1300.00.

On the same day, TipRanks also reported that Bank of America analyst Vivek Arya described Micron as a major winner in the AI investment boom, reiterating a Buy rating on the stock while assigning a price target of $1,550. Bank of America forecasts cloud and AI infrastructure spending to continue its fast-paced growth, potentially reaching $1.5 trillion by 2027.

Micron continues to see strong Buy ratings from analysts: 94% of the 53 analyst ratings compiled by CNN are Buys, while 6% are Holds. The stock has a median price target of $1,600, a 70.51% upside from the current price of $938.38.

Last month, Micron announced a strategic partnership with Anthropic aimed at scaling up the next-generation AI infrastructure. According to the company, the agreement spans memory and storage AI architecture design, supply and demand, and enterprise adoption of Claude across the company. It also includes a strategic investment in Anthropic’s Series H funding round.

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and markets memory and storage products, including dynamic random-access memory (DRAM), flash memory (NAND), solid-state drives (SSDs), and High Bandwidth Memory (HBM) globally.