Micron Technology (MU): Renaissance Technologies Is Selling This Stock

We just covered the 12 Best Stocks to Invest In According to Jim Simons’ Renaissance Technologies and Micron Technology, Inc. (NASDAQ:MU) ranks 5th on this list.

Micron Technology, Inc. (NASDAQ:MU) has featured intermittently in the 13F portfolio of Renaissance Technologies. The fund first disclosed a stake in the company back in the first quarter of 2011. This position comprised 1.7 million shares and was sold off entirely by the next quarter. Since then, the fund has bought a stake in the company many times and sold it off within a few months. The latest holding was purchased in the third quarter of 2025. It comprised 1.2 million shares at the time. Filings for the first quarter of 2026 show that the fund owned 2.1 million shares in the firm, down nearly 30% compared to filings for the previous quarter.

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Micron Technology (NASDAQ:MU) shattered Wall Street expectations in the latest earnings report. The firm pulled in $23.86 billion in Q2 2026 revenue, representing a 196% surge year-over-year, nearly tripling the $8.05 billion recorded in Q2 2025, and a 75% sequential jump from Q1. Non-GAAP diluted EPS landed at $12.20, obliterating the Wall Street consensus estimate of $8.60 by 41.8%. For comparison, EPS in the same quarter last year was just $1.56. Fueled by a supply deficit that sent average selling prices (ASPs) soaring, non-GAAP gross margin expanded to 74.9%, up 18 percentage points sequentially.

While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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