Micron Technology Inc. (NASDAQ:MU) is one of the 10 Best Stocks to Buy According to Billionaire Jeffrey Talpins.
Courtesy of the AI wave, Micron Technology Inc. (NASDAQ:MU) is one of the hottest stocks on the market
Its shares are up by 713% over the past year and by 209% year-to-date. The firm is one of three companies globally that are capable of manufacturing high-end memory chips that are used in AI GPUs. Micron Technology Inc. (NASDAQ:MU) diversified its market from technology to automotive on July 1st after it announced an agreement with General Motors to provide it with memory and storage products.
Photo by JESHOOTS.COM on Unsplash A couple of days earlier, on June 29th, the firm’s role in the global memory industry saw it facing a lawsuit. As memory prices have surged due to high demand from AI GPUs, Micron Technology Inc. (NASDAQ:MU) was hit with a lawsuit that accused it of tightening the market in order to raise memory prices. On June 24th, the firm reported its fiscal third quarter earnings, which saw its $41.46 billion in revenue and $25.11 in earnings per share beat analyst estimates of $35.84 billion and $20.78.