Micron Technology, a leading computer memory maker, is experiencing impressive revenue and income growth due to a shortage in computer memory. With a low P/E ratio, it is considered a bargain among AI hardware stocks. Despite fears of an AI bubble, 90% of AI investors plan to hold or grow their positions this year, according to The Motley Fool’s report.

Micron’s memory hardware is crucial for AI systems processing vast amounts of data on data center servers. Demand for RAM chips exceeds supply by 10%, leading to price increases. Micron’s high-quality products, including high bandwidth memory, are in high demand to support AI servers, driving the company’s growth.

In its fiscal first quarter, Micron saw a 56% increase in revenue, with net income surging by 178% and operating cash flow rising by 159.5%. Despite these strong figures, Micron trades at a low forward P/E ratio of 11, making it a value play in the AI hardware sector. The company plans to focus on AI hardware production, exiting the consumer memory market.

While Micron’s stock has risen significantly, it remains undervalued compared to other AI hardware producers, presenting a strong investment opportunity. The company’s financial performance and growth potential make it one of the best value plays in the AI hardware sector. Don’t miss out on the potential returns offered by investing in Micron Technology.

Read more at Yahoo Finance: From Chips to Data Centers, AI Investors See the Next Breakout in This Stock