Micron Technology (MU) Is Among the Best Affordable Tech Stocks to Invest in According to This Indicator

Insider Monkey12-03 01:47

We recently published a list of 10 Best Affordable Tech Stocks To Invest In Now. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other best...

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In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other best...</p>\n\n<a href=\"https://finance.yahoo.com/news/micron-technology-mu-among-best-174734973.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1363072403.SGD","symbol_name":"Fidelity Global Financial Services A-ACC-SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/micron-technology-mu-among-best-174734973.html","article_id":"2488965004","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/HF8yElcJTpzMyrVnUEJHCQ--~B/aD02Njc7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/445b607dc5b8dfe3a712d51fadd265f6"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488965004","pubTimestamp":1733161654,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently published a list of 10 Best Affordable Tech Stocks To Invest In Now. In this article, we are going to take a look at where Micron Technology, Inc.  stands against the other best affordable tech stocks to invest in now.READ ALSO: 10 Best Small-Cap Stocks Ready To Explodeand10 Cheap NASDAQ Stocks To Invest In Now.Lastly, he pointed out the software group, saying that a lot of software names are improving and he thinks it makes sense to reallocate dollars to software companies as they have some good momentum.Moreover, in one of our recent pieces, titled \"10 Most Promising New Technology Stocks According to Hedge Funds\", we discussed how AI application across various sectors is expected to boost technology IPOs during the year. Here's an excerpt from the article:. After a prolonged slump, the technology IPO is experiencing a revival in 2024, particularly among companies leveraging artificial intelligence. Accordin","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0106831901.USD":"贝莱德世界金融基金A2","BK4581":"高盛持仓","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4504":"桥水持仓","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","TQQQ":"纳指三倍做多ETF","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1548497426.USD":"安联环球人工智能AT Acc","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","BK4168":"多种金属与采矿","HBM":"HudBay Minerals Inc","BK4554":"元宇宙及AR概念","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","QID":"纳指两倍做空ETF","BK4575":"芯片概念",".IXIC":"NASDAQ Composite","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","DRAM":"达泰莱","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4527":"明星科技股","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4579":"人工智能","SQQQ":"纳指三倍做空ETF","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","BK4141":"半导体产品","QLD":"纳指两倍做多ETF","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","PSQ":"纳指反向ETF","MU":"美光科技","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1"},"translate_title":"根据该指标，美光科技(MU)是最值得投资的科技股之一","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MU":1,"DRAM":1,"HBM":1,".IXIC":0.9,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SQQQ":0.6,"TQQQ":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"We recently published a list of 10 Best Affordable Tech Stocks To Invest In Now. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other best affordable tech stocks to invest in now.\nWhat's Happening in the Technology Sector?\nThe US tech stocks have recently faced significant pressure, contributing to a decline in major stock indexes amid ongoing discussions about tariffs. Semiconductors is one of the segments facing a downturn. Jeff deGraaf, Renaissance Macro Research chairman, joined CNBC on November 17 to talk about the state of semiconductors. deGraaf thinks that the rally as it stands today is somewhat overbought internally. This means that while the overall market may be experiencing upward movement, there are underlying signs that it may not be sustainable. An overbought condition typically indicates that asset prices have risen too quickly and may be due for a correction. However, deGraaf also mentioned that the current market is a trend market, not a momentum market, which suggests price movements are driven by broader economic trends and fundamental factors rather than short-term speculative trading. He notes that after the recent elections, there was no significant change in market momentum. This stability reinforces his view that the market has achieved escape velocity, indicating that it is positioned to continue its upward trend despite potential challenges.\nREAD ALSO: 10 Best Small-Cap Stocks Ready To Explode and 10 Cheap NASDAQ Stocks To Invest In Now.\nHe mentioned that the market is still tilted towards cyclical rather than defensive stocks. However, the situation is tricky as semiconductors are experiencing a downturn, which is a huge cyclical industry group. While the semiconductors have been down the software sector has been up on a relative basis. deGraaf noted that he wants to rotate out semiconductors broadly. While elaborating further he mentioned that his statement is based on relative performance, which is very crucial from an investment perspective. He added that except for a few names the semis have the worst momentum and long-term trend strength in the broad market. deGraaf pointed out that NVIDIA has been an exception to its group let alone the greater market, and for that reason, he also wants to avoid the semiconductor giant and rotate out of semis broadly.\nLastly, he pointed out the software group, saying that a lot of software names are improving and he thinks it makes sense to reallocate dollars to software companies as they have some good momentum.\nMoreover, in one of our recent pieces, titled \"10 Most Promising New Technology Stocks According to Hedge Funds\", we discussed how AI application across various sectors is expected to boost technology IPOs during the year. Here's an excerpt from the article:\n\nAfter a prolonged slump, the technology IPO is experiencing a revival in 2024, particularly among companies leveraging artificial intelligence. According to a July 10 report by Morgan Stanley, the firm’s bankers predict to see at least 10 to 15 tech IPOs this year, driven by the growing interest in AI applications across various sectors, especially within technology and healthcare.\nAccording to Colin Stewart, Morgan Stanley’s Global Head of Technology Equity Capital Markets, understanding a company’s role in the evolving AI landscape is crucial for its attractiveness to investors. Companies that demonstrate how AI can transform enterprise operations or customer interactions are more likely to succeed in going public.\nThe past few years saw a significant decline in IPO activity due to high interest rates and lower company valuations. Many tech firms opted to delay their offerings as capital became more expensive. However, as the market adjusts to these higher rates, companies are realizing they cannot postpone their IPOs indefinitely. The need for liquidity and public financing is prompting many large private firms to consider going public again.\nAI has been a revolutionary addition to the healthcare segment as well. Companies are increasingly focused on harnessing vast amounts of data to drive improvements in patient care and medical research. By developing systems that can analyze complex datasets such as electronic health records, imaging data, and genomic information. These firms are positioning themselves as essential players in the healthcare ecosystem. The ability to generate proprietary datasets that power AI applications is becoming a key factor in attracting investor interest.\n\n Charles Knowles / Shutterstock.com \nOur Methodology\nTo compile the list of the 10 best affordable tech stocks to invest in now, we used the Finviz stock screener, Yahoo Finance, and Seeking Alpha. Using the screener we shortlisted technology stocks trading below the Forward P/E of 15 and whose earnings are expected to grow during the year. Next, we sorted our initial list by market capitalization and cross-checked the Forward P/E of each stock from Seeking Alpha and earnings growth from Yahoo Finance. Lastly, we ranked the stocks in ascending order of the number of hedge fund holders as per Insider Monkey’s database for Q3 2024.\nWhy do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\nMicron Technology, Inc. (NASDAQ:MU)\nForward P/E Ratio: 11.4\nEarnings Growth This Year: 586.63% \nNumber of Hedge Fund Holders: 107\nMicron Technology, Inc. (NASDAQ:MU) is the best affordable tech stock to invest in now. The company specializes in memory and storage solutions for various technology applications. Its product portfolio includes Dynamic Random-Access Memory (DRAM), NAND Flash Memory, and NOR Flash Memory.\nWhile Micron Technology, Inc. (NASDAQ:MU) may not be the biggest player in the storage drive markets, however, its chips are recognized to be denser than most of its competitors thereby giving it a competitive edge. For instance, its Higher-density DRAM chips allow data centers to store more short-term data, whereas NAND chips are used to store long-term data in solid-state drives.\nThe company has shifted its focus to meeting the demand for AI and data centers. To cater to this it released its fastest and most efficient 60TB SSD on November 12. The SSD is designed specifically to cater to workloads such as networked AI data lakes, ingest, data preparation, and checkpointing.\nDuring the fiscal fourth quarter of 2024, the company generated $7.75 billion in revenue, indicating 93% year-over-year growth. The quarter was fueled by robust AI demand for its DRAM and other memory products. Management expects strong demand in the data center.\nAlger Mid Cap Focus Fund stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q3 2024 investor letter:\n\n“Micron Technology, Inc. (NASDAQ:MU) is a leading provider of innovative memory and storage solutions supporting key trends like AI, 5G, machine learning, and autonomous vehicles. Micron’s portfolio includes high-bandwidth memory (HBM), which is critical for efficient AI workloads, along with storage solutions like DRAM, NAND, and NOR. These are sold in various forms such as wafers, components, modules, SSDs (solid-state drives), and MCPs (multi-chip packages). We believe the company is well-positioned to potentially benefit from secular trends in AI, data centers, cloud computing, and 5G markets. In July, shares detracted from performance after management lowered expectations due to the slower-than-expected pace of clearing excess inventory. Weak demand in markets like PCs and smartphones led to lower shipment forecasts for the next fiscal quarter. However, towards the end of the quarter, Micron reported better-than-expected fiscal fourth-quarter results, driven by strong data center demand and continued growth in AI-leveraged HBM sales. Although the share price rose after the announcement, shares were still down overall for the quarter.”\n\nOverall, MU ranks 1st on our list of best affordable tech stocks to invest in now. While we acknowledge the potential of MU to grow, our conviction lies in the belief that 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 but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488965004"}