Micron Technology, Inc. (MU) has surged 35.9% year to date, outperforming the Computer and Technology sector. It has also surpassed chipmakers AMD, NVIDIA, and Broadcom, with their shares rising 30%, 28.4%, and 22.2% respectively.

Investors are confident in Micron’s long-term story, driven by AI, data centers, autonomous vehicles, and IoT trends. The company’s focus on advanced memory solutions like DRAM and NAND, along with diversification into stable markets like automotive and enterprise IT, sets it up for sustainable growth.

Micron’s HBM3E products are in high demand for AI workloads, with NVIDIA confirming Micron as a core supplier for its GPUs. The company’s new HBM advanced packaging facility in Singapore indicates a commitment to scaling production for AI markets, supporting its growth potential.

With strong revenue and EPS growth projections for fiscal 2025 and 2026, Micron’s stock remains attractively valued. Its forward P/S multiple of 2.69 is lower than sector peers, making it a compelling buy in the semiconductor space.

Zacks ranks Micron as a Buy, highlighting its strong fundamentals, AI market presence, and discounted valuation relative to competitors like AMD, NVIDIA, and Broadcom. With a disciplined innovation approach and growth potential, Micron is a strategic investment choice.

Read more at Nasdaq: Micron Stock Soars 36% YTD: Still a Buy or Time to Book Profits?