The AI boom has led to hardware companies, like Nvidia, becoming major winners. Micron Technology, based in Idaho, is experiencing growth due to the high demand for memory chips from data centers for AI. Despite its 300% stock jump, Micron still has room for growth and is trading at a bargain compared to competitors.

Micron’s revenue in fiscal 2025 was $37.4 billion, up 49% year over year, with a gross margin of 39%. In Q1 fiscal 2026, revenue grew to $13.6 billion, with a gross margin of 56.8%. Micron trades at a forward P/E ratio of 10.57, making it an attractive investment for AI hardware growth potential.

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*Stock Advisor returns as of February 7, 2026. James Hires has no position in any of the mentioned stocks. The Motley Fool has positions in and recommends Intel, Micron Technology, and Nvidia. See the full disclosure policy for more information.

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