Micron Technology is a top data storage stock with strong growth potential in AI products

From Yahoo Finance: 2025-04-02 17:41:00

The global data storage market was valued at $218.33 billion in 2024, projected to reach $774.00 billion by 2032 with a 17.2% CAGR due to the increasing need for data storage solutions driven by big data growth. AI applications demand high storage capacity and performance as data volumes surge towards 181 zettabytes by 2025.

Micron Technology, Inc. (NASDAQ:MU) is a top data storage stock with a 48.10% upside potential as of March 28 and 94 hedge fund holders. The company designs and manufactures memory and storage solutions, including DRAM and NAND flash products, catering to various markets. Micron’s growth potential in AI-related memory products has positioned it for success in the industry.

Micron Technology, Inc. (NASDAQ:MU) achieved record market share in data center NAND in Q4 2024, with FQ2 2025 revenue hitting $8.1 billion, driven by strong DRAM and NAND revenue growth. The company’s advancements in HBM and LPDDR5 memory products, along with its focus on data center solutions, have solidified its position in the market.

Ranked 6th on the list of best data storage stocks to invest in according to analysts, Micron Technology, Inc. (NASDAQ:MU) presents promising growth potential. With a focus on AI-driven demand for greater memory and storage solutions, Micron’s strategic positioning within the industry makes it a key player to watch for high returns in the evolving data storage landscape.

Read more: Among the Best Data Storage Stocks to Invest in According to Analysts