Is Micron Technology Stock the Next Nvidia?
When it comes to the generative artificial intelligence (AI) hardware, no company stands out as much as Nvidia. The tech giant produces most of the cutting-edge chips needed to power AI algorithms, and business is booming. That said, with a market value of $4.5 trillion, it is already the largest company on the planet. And it might be time for investors to start looking for the next big thing in the AI hardware opportunity.
Enter Micron Technology (NASDAQ: MU). With shares up 317% over the last 12 months, the memory giant is quickly following in Nvidia's footsteps as AI boosts demand for its computer memory hardware. Let's dig deeper to see how much longer the company's bull run might last.
It's fair to say that Nvidia's graphics processing units (GPUs) are the most essential ingredient for running and training large language models (LLMs) because they excel at performing multiple tasks simultaneously (parallel processing). But they don't work alone. Micron's memory chips help store the vast amounts of training data and provide the working memory needed to quickly access information to answer queries. Both types of hardware are essential for building AI data centers.
Source Fool.com
Micron Technology Inc. Stock
The stock is an absolute favorite of our community with 137 Buy predictions and no Sell predictions.
As a result the target price of 386 € shows a slightly positive potential of 11.32% compared to the current price of 346.75 € for Micron Technology Inc..
