Intel’s (NASDAQ: INTC) shares have soared 489%, and Micron Technology (NASDAQ: MU) stock is up a shocking 869% over the past year.
The artificial intelligence spending boom that’s currently underway is fueling interest in these stocks, and both could benefit from rising semiconductor demand in the coming years
But which is the better AI stock to buy right now? There’s a lot to like about Micron stock right now Let’s begin with Micron’s fiscal 2026 second-quarter (ended Feb. 26) results, in which revenue spiked 196% to nearly $24 billion, and the company’s non-GAAP (generally accepted accounting principles) earnings soared 682% to $12.20 per share. Micron’s memory processor business is booming as large technology companies ramp up AI data center spending.
Memory chips typically have rapid boom-and-bust cycles — and it’s still unclear how current chip demand will play out — but management believes that artificial intelligence has “fundamentally recast memory as a defining strategic asset in the AI era.” One sign that the current boom could last longer than usual is that a Micron customer recently signed a five-year memory contract with the company — the first ever of this length for Micron. Adding to Micron’s long-term prospects is the fact that memory chips could become an integral part of robotics systems. The company’s management believes this could become a growth cycle spanning the next two decades as robotics accelerate and becomes “one of the largest product categories in the technology world,” according to Micron CEO Sanjay Mehrotra.