5 Best Long-Term Tech Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 137

Micron Technology, Inc. (NASDAQ:MU) has a five year forward EPS growth rate of approximately 130%, making it one of the best long-term tech stocks to buy according to hedge funds.

Wall Street sees an upside of almost 10% as of April 27, with the stock soaring over 540% in one year. The highest analyst price target is $1,000, which implies almost 101% growth.

The optimism around MU is due to the robust demand for HBM driven by the AI boom. AI is consuming HBM chips at record numbers, with data centers expected to consume 70% of global HBM production in 2026, as per Trend Force. Bloomberg forecasts Micron to capture 25% of the AI market for HBM, with the segment’s revenue from the AI sector growing to $32.5 billion in five years. With a forward P/E of under 9, MU is relatively underpriced compared to the 32.5x average of the sector.

On April 7, UBS analyst Timothy Arcuri lifted the price target on Micron Technology, Inc. (NASDAQ:MU) from $510 to $535, keeping a Buy rating. Arcuri sees continued strengthening in pricing for DRAM and NAND memory, especially for HBM. This would lead to higher margins as Micron is planning to rebuild a premium for HBM pricing into 2027. UBS projects Micron Technology’s EPS to reach $135 in CY2027, well above the Wall Street estimate of over $101.

Micron Technology Inc. (NASDAQ:MU) provides memory and storage solutions sold into client, cloud server, enterprise, graphics, networking, smartphone, mobile-device, automotive, industrial, and consumer markets, among others.