10 Best Memory Stocks to Buy According to Billionaires

7. FormFactor Inc. (NASDAQ:FORM)

No. of Billionaire Holders: 25

FormFactor’s latest results reflect the growing need for semiconductor testing equipment as AI and high-performance computing demand expands. In the third quarter, revenue reached $280.5 million, up 38.4% year over year. Non-GAAP earnings more than tripled, rising to $1.04 from $o.33. Meanwhile, its Systems segment generated record revenue of $59.5 million, driven by strong demand for TRITON systems used in co-packaged optics.

FormFactor is also strengthening its position through an expanded partnership with Teradyne. Under the agreement, Teradyne is investing $300 million in FormFactor. Both companies will collaborate on testing solutions for advanced semiconductor applications such as co-packaged optics and high-bandwidth memory. FORM is also expanding its manufacturing capacity. The company’s new Farmers Branch facility has already started shipping production equipment to customers. However, investors should keep in mind that third-quarter gross margin received a boost from tariff refunds and favorable component costs. Management does not expect these benefits to repeat. This puts future margins in focus as the company expands. The stock ranked 5th on our list of 10 Most Buzzing AI Semiconductor Stocks to Buy in 2026.

6. Western Digital Corporation (NASDAQ:WDC)

No. of Billionaire Holders: 31 

Western Digital Corporation (NASDAQ:WDC) gives investors exposure to growing demand for data storage as AI and cloud computing drive the need to store more information. The company’s business specializes in hard disk drives (HDDs), which continue to serve a key role in large data centers. In its fiscal first quarter of 2027, revenue rose 55% year over year to $4.4 billion. Gross margin reached 58.1%. It generated $1.4 billion in free cash flow, supported by strong demand and improved profitability.

Despite delivering a strong quarter, the stock came under pressure after management said capital spending would remain slightly above its typical range of 4% to 6% of revenue over the next two years. However, several analysts believed investors had overreacted. Morgan Stanley’s Erik Woodring reaffirmed his Overweight rating and raised his price target from $643 to $668. He argued that the additional investment is necessary to expand production capacity and support newer drive technology. Although the additional spending could prepare WDC for stronger future demand, investors will want evidence that it leads to higher shipments and stronger margins.

AQR Capital Management, led by billionaire investor Cliff Asness, owned 2.94 million WDC shares at the end of the second quarter of 2026. The firm reduced its position during the quarter, but the holding still puts Western Digital among billionaire-backed stocks. The stock is also ranked among our 10 Best and Cheap Stocks to Buy Heading into 2027. Meanwhile, the market continues to weigh the costs of expanding production capacity.

5. Seagate Technology Holdings plc (NASDAQ:STX)

No. of Billionaire Holders: 31 

Seagate Technology Holdings plc (NASDAQ:STX) is well positioned to benefit from the expanding need for data storage as AI and cloud infrastructure require more capacity. Its fiscal Q1 2027 results highlight the strength of this demand. Revenue rose 61% from a year earlier to $4.2 billion. On a non-GAAP basis, earnings per share grew 194% to $7.68. Data center sales contributed $3.4 billion, and Seagate delivered a record 198 exabytes of nearline capacity. For the December quarter, management expects revenue to reach approximately $4.8 billion.

The stock fell 5% despite the strong quarterly results. Investors were concerned that shipment growth fell short of expectations. However, Bank of America reiterated its Buy rating and $1,200 price target, considering the slowdown temporary as the company shifts to newer HAMR technology. The stock is also featured among our 10 Oversold AI Stocks: Where Wall Street Analysts Are Spotting 50%+ Upside, which further supports BofA’s bullish view.

Seagate also attracted a new investment from Tiger Global Management. The firm, led by Chase Coleman, held approximately 285,100 shares worth $275.1 million at the end of Q2 2026. This makes STX another storage stock backed by a billionaire investor.