Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. The company offers memory products for the cloud server, enterprise, client, graphics, networking, industrial, and automotive markets, as well as for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets; discrete storage products in component and wafers; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

Micron выглядит как компания с сильным операционным рычагом, но рынок уже заложил в цену очень много оптимизма. По качеству бизнеса картина сильная: ROE 40.84%, ROA 27.66% и ROI 33.73% заметно выше отраслевых медиан, а чистая и операционная маржа остаются высокими и продолжают улучшаться. Выручка, валовая прибыль, операционная прибыль и чистая прибыль за последние периоды существенно выросли, что подтверждает восстановление цикла и хорошую монетизацию спроса. Ликвидность комфортная: current ratio 2.90 и quick ratio 2.32 указывают на запас прочности по краткосрочным обязательствам. Долговая нагрузка умеренная и даже снизилась: debt/equity 0.19, а долгосрочный долг сократился по сравнению с более ранними периодами, что снижает финансовые риски. При этом оценка выглядит перегретой по ряду мультипликаторов: P/S, P/B и P/FCF существенно выше медианы отрасли, а P/FCF особенно высокий для компании, чья прибыльность уже циклически улучшилась. P/E, напротив, ниже отраслевой медианы, но это не полностью компенсирует дороговизну по балансу и денежному потоку. Дивидендная доходность очень низкая и снижается, поэтому дивидендный фактор почти не поддерживает инвестиционный кейс. Отдельно настораживает, что return on tangible equity ниже медианы отрасли, то есть часть высокой доходности капитала может быть связана с особенностями структуры капитала и переоценкой активов. В сумме фундаментал у Micron качественный и улучшающийся, но текущая рыночная цена, вероятно, уже опережает устойчивость денежного потока и нормализацию цикла памяти. Для инвестора это означает, что базовый долгосрочный тезис остаётся положительным, однако краткосрочно оценка требует более осторожного подхода и умеренной корректировки прогноза.

Micron Technology, Inc.

Сильный индекс, незначительно упал. Быки в растерянности.

Strong index, slightly down. The bulls are confused.

Средний индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Medium index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Средний индекс, значительно вырос. Рынок на стороне быков.

Medium index, significantly up. The market is on the bulls' side.

Слабый индекс, значительно упал. Рынок не поддерживает медведей.

Weak index, significantly down. The market does not support the bears.

Средний индекс, значительно упал. Отток средств из лонгов увеличился и находится на высоком уровне.

Medium index, significantly down. The outflow of funds from longs has increased and is at a high level.

Средний индекс, значительно вырос. Приток средств в шорты резко увеличился и находится на высоком уровне.

Medium index, significantly up. The inflow of funds into shorts has increased sharply and is at a high level.

Сильная прибыльность и ликвидность Micron сочетаются с дорогими P/S, P/B и P/FCF, поэтому фундаментал хорош, но оценка выглядит перегретой.

Arista Networks (NYSE: ANET), Micron (NASDAQ: MU), Broadcom (NASDAQ: AVGO), Eaton (NYSE: ETN), and Applied Digital (NASDAQ: APLD) give investors different ways to think about the AI build-out beyond Nvidia (NASDAQ: NVDA). The upside thesis is simple: as AI demand grows, the world may need more networking, memory, power, custom chips, and data center capacity than many investors realize.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
*Stock prices used were the market prices of June 13, 2026. The video was published on June 13, 2026.
Should you buy stock in Arista Networks right now?
Before you buy stock in Arista Networks, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Arista Networks wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
Now, it’s worth noting Stock Advisor’s total average return is 935% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 14, 2026.
Rick Orford has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Arista Networks, Broadcom, Eaton Plc, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

5 AI Infrastructure Stocks You'll Wish You Bought Sooner

Key Points
Nvidia has been the biggest artificial intelligence (AI) infrastructure winner and continues to be well positioned.
AMD is riding two powerful trends in inference and agentic AI.
Micron continues to benefit from surging memory needs stemming from AI infrastructure.
Spending on artificial intelligence (AI) infrastructure is booming, with related capital expenditure (capex) expected to surpass $700 billion this year. While that is a staggering amount, Goldman Sachs said it doesn't see spending slowing next year, projecting it could reach between $920 billion and $1.4 trillion.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
At $1.25 trillion, that would be about 3% of gross domestic product (GDP), which would still be below some past technology booms, including the U.S. and U.K. railroad build-outs in the late 1800s.
Let's look at three AI stocks to own as infrastructure capex continues to soar.
1. Nvidia
Nvidia (NASDAQ: NVDA) has been the biggest beneficiary of early AI infrastructure spending, and it remains well-positioned to be one of the biggest winners. The stock is also attractively valued, trading at a forward P/E of just 16 times fiscal 2028 (ending January 2028) analyst estimates.
The company has been seeing extraordinary revenue growth, including 85% last quarter, as its graphics processing units (GPUs) remain the primary chip used to train AI models. It still has a wide moat in this area, as most early foundational AI code was written on its CUDA software platform.
Nvidia is also looking to be an important player in inference and agentic AI. Its "acquisition" of Groq gave it language processing units (LPUs), which are ideal for the decode phase of inference, while it has also introduced ARM-based CPUs, which can play a pivotal role in agentic AI.
Overall, Nvidia is set to remain one of the biggest winners from this AI infrastructure spending.
2. AMD
While Advanced Micro Devices (NASDAQ: AMD) lost to Nvidia in AI model training, AMD is much better positioned for the emerging trends of inference and agentic AI. Inference is much less technical than AI model training, and AMD's ROCm software has improved significantly over the past few years, loosening CUDA's stranglehold in this area.
The company's chiplet GPU design can also pack in more memory, which is important because inference constraints are generally memory-related rather than compute power. AMD already has two $100 billion GPU commitments related to inference, which should be a huge growth driver for the company in the coming year.
In addition to its opportunity in inference, AMD is also a leader in data center CPUs. This market is set to see explosive growth with the rise of agentic AI, which needs more CPUs to help manage the sequential reasoning required to power AI agents. As a result, the GPU-to-CPU ratio is expected to shift from 8:1 for training to 1:1 with agentic AI, with AMD predicting this could be a $120 billion market in a few years.
With the company riding two of the biggest trends in AI infrastructure, it looks like a big winner from this increasing spending.
3. Micron
The memory market is booming, especially DRAM (dynamic random access memory), as GPUs and other AI chips need to be packaged with a special type of DRAM called high-bandwidth memory (HBM) to achieve optimal performance. The shift toward inference, which tends to be more memory-bound than compute-bound, only escalates the need for more memory.
As one of the big three DRAM makers, along with Korean companies SK Hynix and Samsung, Micron (NASDAQ: MU) has been riding higher DRAM prices to record revenue, gross margins, and profits.
The entire DRAM market remains undersupplied, and with data center capex expected to continue surging, that dynamic is unlikely to change anytime soon, even as new capacity comes on.
Micron stock is inexpensive, trading at a forward P/E of 9 times fiscal 2027 (ending July 2027) estimates, and with the company starting to sign some longer-term contracts, it should help lessen some of the cyclicality in its business. That makes it a nice stock to own as AI capex continues to soar.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
Now, it’s worth noting Stock Advisor’s total average return is 935% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 14, 2026.
Geoffrey Seiler has positions in Advanced Micro Devices. The Motley Fool has positions in and recommends Advanced Micro Devices, Micron Technology, and Nvidia. The Motley Fool recommends Arm Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Goldman Sachs Predicts AI Infrastructure Spending Could Hit More Than $1 Trillion in 2027. 3 AI Stocks to Buy.

Key Points
Nvidia and Micron both serve AI customers with products crucial for their success.
These stocks have each soared more than 1,000% over the past five years.
Nvidia (NASDAQ: NVDA) and Micron Technology (NASDAQ: MU) each have seen revenue soar amid this artificial intelligence (AI) boom. This is because these companies offer something that is crucial for the development and performance of this hot technology: compute power, and memory and storage.
Nvidia is the compute expert, designing the fastest graphics processing units (GPUs) around, while Micron offers the memory and storage necessary for AI tasks. Investors have recognized these companies' strengths and have rushed to get in on the stocks. As a result, Nvidia and Micron each have climbed more than 1,000% over the past five years.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Both of these companies are likely to win as this AI story continues to unfold. But if you could only invest in one today, which is the better AI growth buy? Let's find out.
The case for Nvidia
Nvidia is the leading designer of GPUs, the chips powering key AI tasks like the training and inference of AI models. Though rivals also offer compute, and in many cases are delivering revenue growth too, Nvidia remains a big step ahead. Companies may invest in a broad range of compute, but those who aim to win in AI generally rely at least partially on Nvidia's GPUs -- their high speed helps customers reach the finish line faster and may result in a lower total cost of ownership over time.
But Nvidia doesn't rely on GPUs alone. The company offers a full portfolio of related products and services, and today it's in the process of entering another enormous market: the central processing unit (CPU) market. These are the chips that generally power all computers, and they are a key tool to fuel AI agents, the next area of AI growth. Nvidia is launching its first-ever stand-alone CPU this fall and is conquering the CPU for PC market with a new superchip. This may set it on track for leadership in this $200 billion market.
Nvidia also has designed products and services specifically for certain markets, from telecom to healthcare and robotics, which offers it a pretty significant revenue growth opportunity moving forward.
The case for Micron
Micron, as mentioned, is an expert in memory and storage -- two critical elements for AI customers, particularly as the era of AI agents unfolds. AI agents go through a thought process and carry out steps, in many cases multiple steps, to solve a particular problem. For this, they clearly need compute power but also memory and storage.
Demand for these products has been so high that Micron recently reported records in revenue, gross margin, earnings per share, and free cash flow, and revenue from DRAM and NAND, two types of memory, increased in the triple digits.
"In the AI era, memory has become a strategic asset for our customers," the company said in the latest earnings update.
Micron has noted increased adoption of AI agents in PCs and smartphones, a point that supports ongoing demand for the company's products.
The tech giant expects earnings records in the current quarter, the third fiscal quarter. Micron predicts free cash flow will "roughly double sequentially" in the period. And it forecasts third-quarter revenue of $33.5 billion, a record high for any quarter or year so far.
The biggest headwind for Micron at this point is supply -- due to supply constraints, it's unable to serve 100% of its customers' needs.
Which stock is the better buy?
Though Nvidia and Micron both have climbed this year, Micron's advance is much steeper than that of Nvidia. It's soared more than 240%, while Nvidia has added 9% as of the June 11 market close.
Micron actually is cheaper than Nvidia: It trades for 16x forward earnings estimates, while Nvidia trades for 22x. But while Nvidia's valuation has fallen this year, Micron's has increased.
I think Micron is a great stock to own, but the run-up in its price and rising valuation suggest this player could be heading for a pullback at a certain point. Meanwhile, Nvidia, at today's valuation, offers investors a fantastic buying opportunity. And that's why, today, I think Nvidia is the better AI growth buy to add to a tech portfolio.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
Now, it’s worth noting Stock Advisor’s total average return is 935% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 14, 2026.
Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Better AI Growth Buy Right Now: Nvidia vs Micron

Key Points
Memory and storage stocks are having a strong 2026.
Micron trades near $1,000, and investing in top performers like Samsung and SK Kynix is not easy for U.S. investors.
The Roundhill Memory ETF offers a way around the issues some investors are facing.
Companies have been making memory and storage solutions for decades, but it was artificial intelligence (AI) that recently woke up the sleepy sector. That's allowing specialized memory and storage providers like Micron Technology, Samsung Electronics, and SK Hynix to cash in.
Unfortunately for investors, owning those companies isn't the most straightforward. It costs nearly $1,000 to own a full share of Micron, while Samsung and SK Hynix are based in South Korea and do not offer American depository receipts (ADRs), making it more difficult for U.S. investors to own shares.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
SK Hynix did recently file for a listing of ADRs on a U.S. exchange, but the exact timing of when shares could be listed is still unclear.
Nevertheless, there's a way to participate in the success of all three stocks immediately for less than $70: the Roundhill Memory ETF (NYSEMKT: DRAM).
The access DRAM provides
The Roundhill Memory ETF launched on April 2 and, as of June 12, held 15 positions. Through total return swaps, which provide access to a stock through a derivative contract without ownership, and direct ownership, Micron is one of the top holdings in terms of portfolio weight of the exchange-traded fund (ETF).
Micron provides memory and storage solutions for personal computers, mobile phones, and the automotive industry, but shares have really taken off thanks to AI; the Micron stock price is up nearly 250% on the year. Micron offers a portfolio of data center memory solutions, which is helping drive record revenue. For the company's fiscal second quarter 2026 (ended Feb. 26), revenue for its core data center business unit was $5.6 billion, an increase of 211% from the $1.8 billion reported in the same period a year prior.
For Samsung, another top holding of the ETF, it also offers memory solutions like Micron. But unlike Micron, it focuses on more than just memory, providing a one-stop shop for logic, memory, foundry, and packing solutions. It recently launched samples of its high-bandwidth memory HBM4E chip, which companies like Nvidia and Alphabet need for AI accelerators. On the Korea Exchange (KRX), shares are up more than 150%.
Switching gears to SK Hynix, another significant holding in the RoundHill Memory ETF, it's more like Micron than Samsung in terms of purely focusing on advanced memory and storage offerings. In a big win for the company, it just landed a multi-year agreement with Nvidia to partner on AI memory chips. On the KRX, shares have jumped more than 200% for the year.
The risks and rewards
If the fervor for memory and storage stocks dies down, this ETF would be hit with losses particularly hard, as there's little room for it to hide. Just recently, shares dropped 17.7% from June 3 to June 10. That said, the memory and storage market is becoming less cyclical as AI creates constant demand, which creates a stronger backstop for memory and storage makers than they've had in the past.
Roundhill Memory holds some of the top memory and storage companies, offers access to Micron for less than $1,000, and gives U.S. investors a way to invest in SK Hynix and Samsung without dealing with international trading. As a small position in a well-rounded portfolio, the Roundhill Memory ETF can offer long-term upside for investors who can handle short-term volatility.
Should you buy stock in Roundhill ETF Trust - Roundhill Memory ETF right now?
Before you buy stock in Roundhill ETF Trust - Roundhill Memory ETF, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Roundhill ETF Trust - Roundhill Memory ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
Now, it’s worth noting Stock Advisor’s total average return is 935% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 14, 2026.
Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Samsung, SK Hynix, and Micron Are Fighting for AI Memory Dominance. Here's How You Can Buy All Three for About $65.

Key Points
Most S&P 500 index funds are market-cap weighted.
An alternative approach is an equal-weighted fund.
Both can serve you well, and one looks less risky.
What's the investment I've recommended most often for most people? A low-fee exchange-traded fund (ETF) that tracks the S&P 500 index, such as the Vanguard S&P 500 ETF (NYSEMKT: VOO) or the SPDR S&P 500 ETF (NYSEMKT: SPY). I suspect many of my colleagues would say the same. Even Warren Buffett has recommended it. In his 2016 letter to shareholders, he noted, "Over the years, I've often been asked for investment advice... My regular recommendation has been a low-cost S&P 500 index fund."
So I'm sorry to point out that it's not a perfect kind of investment. It has some issues.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
What's wrong with the S&P 500?
Here's a big one: It's way more concentrated than most people realize. For example, check out its recent top 10 components:
Company
Weight in S&P 500
Nvidia
7.43%
Alphabet (A and C share classes)
6.59%
Apple
6.48%
Microsoft
4.35%
Amazon.com
3.92%
Broadcom
2.74%
Tesla
2.26%
Meta Platforms
2.17%
Micron Technology
1.65%
Berkshire Hathaway
1.56%
Those weightings may not seem huge until you remember that there are about 490 other companies. These 10 above represent about 2% of the index's holdings but 39% of its total value. So if you invest in the S&P 500 because it's a great way to be quickly and easily invested in 500 of America's biggest companies, you are invested in those companies, but more than a third of your investment is in these 10 companies alone.
Here are the weightings of some other companies:
Company
Rank in S&P 500
Weight in S&P 500
McDonald's
54
0.30%
PepsiCo
59
0.29%
Pfizer
80
0.22%
Kroger
261
0.06%
Clorox
468
0.02%
As you can see, you won't have much invested in the vast majority of the companies.
That can be OK, though. Maybe you like those tech heavyweights in the top 10 -- which include all of the "Magnificent Seven" stocks (Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla). Maybe you want to invest in the 500 companies, with most of your money going to the biggest. After all, most of them have grown very rapidly over the past few years.
Keep in mind, though, that when there's a stock market crash or correction, as there invariably is now and then, those high-flying growth stocks are often the ones that fall harder. That, too, can be OK as long as you have a very long-term investing period. But it's not ideal.
Is there a better alternative to the S&P 500?
There is an alternative to standard S&P 500 index funds that's worth considering: An equal-weighted one. Standard ones are weighted by market cap, meaning the larger a company's market cap, the greater its weighting. The Invesco S&P 500 Equal Weight ETF (NYSEMKT: RSP), in contrast, is equal-weighted. The 500 components are rebalanced quarterly, so between rebalancings you'll see fluctuations in the weightings as various stocks gain or lose value from day to day and year to year. Check out its recent top 10 holdings:
Company
Weighting
Dell Technologies
0.48%
SanDisk
0.48%
Intel
0.42%
Advanced Micro Devices
0.42%
Humana
0.40%
Micron Technology
0.40%
Hewlett Packard Enterprise
0.40%
Seagate Technology
0.40%
ON Semiconductor
0.35%
Western Digital
0.35%
Note that Micron Technology appears in both top 10 lists, but in the earlier one, it has a 1.67% weighting, while in the fund above, it has a much lower weighting of 0.35%. This kind of index fund has you much more invested in the other 490 stocks beyond the top 10 -- though, of course, each stock has a relatively minor weighting. But every promising stock will have an equal chance of outperforming for you.
An equal-weighted S&P 500 ETF may not grow as fast as a market-cap-weighted one, but during a market downturn, it may hold its value a bit more. Over the past 15 years, this ETF has averaged annual gains of about 12%, while the Vanguard S&P 500 ETF has averaged 14.4%. There's a trade-off, but it's not enormous. Give equal-weighted S&P 500 index funds some consideration.
Should you buy stock in Vanguard S&P 500 ETF right now?
Before you buy stock in Vanguard S&P 500 ETF, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard S&P 500 ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
Now, it’s worth noting Stock Advisor’s total average return is 935% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Selena Maranjian has positions in Advanced Micro Devices, Alphabet, Amazon, Apple, Berkshire Hathaway, Broadcom, Meta Platforms, Micron Technology, Microsoft, Nvidia, and Pfizer. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Apple, Berkshire Hathaway, Broadcom, Hewlett Packard Enterprise, Intel, Meta Platforms, Micron Technology, Microsoft, Nvidia, Pfizer, Tesla, Vanguard S&P 500 ETF, and Western Digital. The Motley Fool recommends Kroger and ON Semiconductor and recommends the following options: long January 2028 $320 calls on McDonald's and short January 2028 $340 calls on McDonald's. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Have S&P 500 Index Funds, Often Touted as the Best Stock Investments, Become Dangerous? There's a Worrisome Development -- and a Possibly Better Alternative.

Key Points
Micron reports fiscal third-quarter results after the market closes on June 24.
Management guided for record revenue of about $33.5 billion in the quarter.
The company's entire 2026 high-bandwidth memory supply is already sold out.
Memory specialist Micron Technology (NASDAQ: MU) is scheduled to report its fiscal third-quarter results on Wednesday, June 24, after the market closes. And expectations heading into the report are about as high as they get. Shares have surged 244% in 2026, crossing a $1 trillion market capitalization along the way -- a milestone only two other memory companies have reached.
That run has been powered by an artificial intelligence (AI) build-out that has turned memory chips into one of the most sought-after components in the data center, and Micron into one of its biggest beneficiaries. But a stock that has climbed this far, this fast, leaves little room for a stumble.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Put another way, the stakes are high. And when the company reports later this month, a single number may tell investors more about whether the story is still intact than any other line in the release.
Here's a closer look at why this one metric carries so much weight -- and what to watch as the report approaches.
Why gross margin is the number that matters
When Micron last reported, in March, its results were staggering across the board. Fiscal second-quarter revenue (the period ended Feb. 26, 2026) nearly tripled year over year to $23.86 billion, marking a company record. But the figure that best captured what's happening inside the business was gross margin, which expanded to about 75% from roughly 37% a year earlier. That is an enormous swing for a memory company, and it speaks directly to pricing.
Memory has historically been a brutal, commodity-like business, with prices swinging sharply as supply and demand fall in and out of balance. What's different now is that AI demand has collided with tight industry supply, sending prices higher and lifting margins along with them. In the fiscal second quarter, Micron said DRAM prices sequentially rose in the mid-60% range, and NAND prices climbed in the high-70% range.
For the fiscal third quarter, management guided for gross margin to reach about 81%. That would mark yet another step up. And it explains why this is the make-or-break figure: revenue can grow on volume alone, but a gross margin approaching 81% is a direct readout of how much pricing power Micron still holds.
If that number comes in at or above guidance, it confirms the favorable pricing environment is holding. If it slips, it could signal that the best of the pricing cycle is already behind the company.
"We expect higher price, lower cost and favorable mix to all contribute to gross margin expansion in Q3," said Micron chief financial officer Mark Murphy in the company's fiscal second-quarter earnings call.
That is the bar the report will be measured against.
The bull and bear cases
The bull case rests on supply that simply can't keep up. High-bandwidth memory (HBM), a specialized type of DRAM that sits alongside AI processors, has become the tightest part of the chain -- and Micron has said its entire 2026 HBM supply is already sold out. That kind of visibility is rare for a chipmaker, and it suggests pricing could stay firm well into next year. And management has even gone further, saying it expects supply and demand for both DRAM and NAND to remain tight beyond calendar 2026.
There's also a structural argument. As AI models grow larger and lean more heavily on memory, the demand for Micron's chips may prove more durable than in past cycles.
"In the AI era, memory has become a strategic asset for our customers," said Micron CEO Sanjay Mehrotra when the company reported in March, pointing to the same dynamic that has reshaped the business.
The bear case is the one that has repeatedly plagued memory stocks: cyclicality. Micron has lived through painful downturns before -- most recently in 2023, when oversupply cratered prices and the company posted losses. And rivals Samsung and SK Hynix are notably racing to expand their own HBM output, and Micron itself is projecting more than $25 billion in capital spending this fiscal year. Should that supply arrive faster than AI demand can absorb it, the same pricing leverage now lifting margins could just as easily work in reverse.
So, what should investors make of all this heading into June 24?
With shares trading at a trailing price-to-earnings ratio in the mid-40s after their enormous run, a lot of good news is already baked in. I think the smartest approach is to keep your eyes on that gross margin line rather than the headline revenue number. It may be the best signal of whether Micron's pricing power -- and the thesis behind the stock's remarkable climb -- is still intact.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $433,268!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,259,391!*
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Daniel Sparks and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Micron Reports Earnings June 24. Here's the One Number That May Make or Break the Stock.

Many investors are buying shares of AI companies right now, and it's easy to see why. But there is a right and wrong way to set yourself up to benefit from the AI revolution, and in this video, Certified Financial Planner® Matt Frankel shares his framework.
*Stock prices used were the morning prices of June 11, 2026. The video was published on June 12, 2026.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 935%* — a market-crushing outperformance compared to 206% for the S&P 500.
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How to Invest in the AI Revolution Without Making Costly Mistakes

Key Points
The S&P 500 has climbed in the double digits since President Donald Trump’s inauguration.
But the index has slipped on occasion over the past year amid various headwinds.
Since President Donald Trump's inauguration, the S&P 500 bull market has been roaring higher, with the index advancing 21% and reaching multiple new record highs. It hasn't been a completely steady path, though: Concerns about U.S. import tariffs and turmoil in Iran, as well as worries about economic growth, have weighed on sentiment and stock performance periodically.
Overall, however, the Trump bull market has prevailed as investors piled into growth stocks, particularly those involved in artificial intelligence (AI). Names such as AI chip designer Nvidia, cloud services provider Alphabet, and memory and storage giant Micron Technology have soared in the double and triple digits. These are the companies that are already monetizing AI, and investors have aimed to get in on these success stories early.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Meanwhile, against this bright backdrop, investors haven't been completely sanguine. With the bull market well into its third year, they've questioned its longevity -- particularly during moments when headwinds have interrupted the momentum. Is the Trump bull market coming to an end? The evidence is piling up, and the message is strikingly clear...
AI stocks drive gains
So, first, a closer look at some of the main points that have driven market direction since Trump took office. As mentioned, investors continued to rush into AI stocks as well as other high-growth players such as quantum computing stocks. They were optimistic about growth and the possibility of interest rate cuts to further boost it.
But various factors have rocked that boat over the past year or so. Last spring, the president's announcement of import tariffs sparked concern that these duties would weigh on the earnings of U.S. companies and the wallets of consumers. Negotiations with various countries to lower tariff levels tempered the concerns, but certain companies are still dealing with pressures from these added costs.
Last year, the president clashed with Jerome Powell, then chair of the Federal Reserve, regarding interest rates: Trump wanted them lowered to support growth, while Powell took a wait-and-see approach. And this uncertainty regarding rates also weighed on sentiment.
Finally, this year, turmoil in Iran, resulting in supply chain disruptions and higher energy prices, also put the brakes on positive momentum.
The S&P 500's first-half performance
Still, the S&P 500 recovered from those times of difficulty, and even today, with the Iran troubles ongoing, the index is on track for a first-half increase of 6%.
Now, let's consider whether this bull market may continue -- or if it's in danger. Though AI companies continue to report spectacular earnings and forecast more to come, investors have become more cautious on the sector. Any small disappointment may weigh heavily on a stock. We saw this when Broadcom's forecast fell short of certain analysts' expectations, and this triggered declines in chip stocks.
Meanwhile, Kevin Warsh took over as Fed chair last month, and investors are on the edge of their seats as the next Fed meetings approach. Economists don't expect a change in rates during the June 16 meeting, but they and other market participants will be listening closely for clues about policy ahead.
Investors may be particularly interested in Warsh's comments due to the latest data regarding inflation -- consumer prices jumped 4.2% last month, the highest rate in three years.
All of these elements have represented headwinds for stocks, and if these problems deepen, they could lead to the end of the bull market. But the evidence that's most compelling is the following.
Stocks are historically expensive
The S&P 500 has done something it's only done once before in the past, and that's always led to declines. The index has reached valuation levels it only surpassed during the dot-com bubble, showing that today, stocks are historically expensive. We can see this through the S&P 500 Shiller CAPE ratio, an inflation-adjusted view of stock price in relation to earnings per share.
If we zoom in to get a closer look at what happens to the index when peaks in valuation occur, the message is clear: The S&P 500 goes on to decline.
So, the evidence is piling up, and the message is strikingly clear: The Trump bull market could be coming to an end amid high valuations, increasing inflation, and general market uncertainties.
But here's the good news: We don't know the exact timing for such a transition, meaning the bull market could have further to go. Second, markets shift through bull and bear cycles, so we know downturns always are temporary. And this means that investors who hold onto quality stocks over time are likely to score an investing win, regardless of near-term shifts.
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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Broadcom, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is the Trump Bull Market Coming to an End? The Evidence is Piling Up, and the Message is Strikingly Clear.

Key Points
Micron and Sandisk are cashing in on the memory chip shortage.
Nebius is thriving thanks to high demand for cloud computing capacity.
A few years ago, a Wall Street analyst dubbed a group of megacap tech stocks that have led the market to new heights over the past five years the "Magnificent Seven" -- and the name stuck. Each is among the 10 largest companies in the world, and all can still make for solid investments. Other than Nvidia, most of them top out at about a 30% growth rate, which is impressive, but wouldn't be considered "hypergrowth." If you're looking for stocks that are doubling or even tripling their revenue year over year, you'll have to look beyond the Magnificent Seven.
Three hypergrowth stocks that look like strong picks right now are Micron (NASDAQ: MU), Sandisk (NASDAQ: SNDK), and Nebius (NASDAQ: NBIS). They're all cashing in on the massive artificial intelligence (AI) build-out, and are on course to deliver even more growth in the coming years.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Micron
Micron is a memory-chip maker that specializes in NAND and DRAM memory. Each of these distinct types is utilized in different varieties of computing products, with NAND memory largely going into solid-state drives (SSDs) and DRAM incorporated into computing units for fast memory access. Both types of memory are in short supply due to unprecedented demand from the AI infrastructure build-out, so the price of memory chips is skyrocketing. That is leading to huge revenue and earnings growth for Micron, which in turn has delivered impressive gains for investors.
Two quarters ago, Micron's revenue totaled $13.6 billion. Last quarter, that figure hit $23.9 billion. For its recently completed fiscal third quarter, management was guiding for $33.5 billion. That's an unreal growth trajectory, and if Micron continues along it, it will be a great investment to hold.
While Micron and its peers are building more production capacity, the memory chip shortage isn't expected to be resolved anytime soon, so there's room for its revenues to continue growing. Wall Street analysts support that view: Their consensus expectation is for 197% growth in fiscal 2026, which ends in August, and 63% growth in fiscal 2027. Despite the monster run-up Micron stock has already experienced, it could have room to climb further.
Sandisk
Sandisk is also a memory-chip maker, but it focuses only on NAND memory, which is utilized in SSDs. SSDs are used heavily in data centers for long-term data storage, and like Micron, Sandisk cannot make enough to satisfy the enormous demand coming from the AI realm.
If you thought Micron's growth was impressive, you had better buckle up for Sandisk's. Although it's smaller than Micron, its revenue rose 251% year over year to $5.95 billion during its most recent quarter. Wall Street is similarly bullish on Sandisk's future, with 167% revenue growth expected for its fiscal 2026 (which ends this month) and 122% growth forecast in fiscal 2027.
With all that growth on the horizon, I have no doubt that Sandisk can continue being a top AI stock to own.
Nebius
Nebius is one of the companies that's causing the memory chip shortage. It's a neocloud company, which means it builds data centers focused on producing AI-first cloud computing services. Considering the current tech environment, there are few better businesses to be in.
In Q1 alone, Nebius' revenue rose by 684% year over year. However, it's not done there. Nebius has ambitious expansion plans and is doing everything it can to capture market share while there is huge demand. For the rest of 2026, Wall Street expects 551% growth, and in 2027, analysts project 224% growth. Essentially, Nebius' revenue is expected to rise by 20x from the end of 2025 to 2027. That's about as rapid a growth rate for a company as I've seen, and investors can still purchase the stock now without fearing that all of its future business growth is already baked into the stock price.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $438,283!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,257,427!*
Now, it’s worth noting Stock Advisor’s total average return is 938% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 12, 2026.
Keithen Drury has positions in Nebius Group and Nvidia. The Motley Fool has positions in and recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Forget the "Magnificent Seven": These 3 Hypergrowth Artificial Intelligence (AI) Stocks Are Just Getting Started

Riding the artificial intelligence (AI) boom, Sanjay Mehrotra-led Micron Technology MU outpaced Jensen Huang-led NVIDIA Corporation NVDA over the past year, rising 761.5% compared to NVIDIA’s 44.3%. Let us thus see how both companies performed and whether Micron holds an investment edge over NVIDIA –
Image Source: Zacks Investment Research
The Bullish Case for MU Stock
Micron reported revenues of $23.86 billion in the fiscal second quarter of 2026 and expects revenues to improve further to $33.5 billion in the fiscal third quarter, according to investors.micron.com. As hyperscalers increase their spending on AI infrastructure, Micron’s advanced high-bandwidth memory (“HBM”) chips are witnessing high demand, supporting revenue growth.
The present supply-demand imbalance in HBM chips gives Micron strong pricing power and underpins a strong long-term growth outlook. Nonetheless, the HBM chips are in demand due to their capability to manage complex workloads while delivering improved power efficiency.
Also, constrained supply in NAND flash chips is expected to continue through the middle of next year, which could further boost margins. Micron expects a solid gross margin of around 81% for the fiscal third quarter of 2026, showcasing strong financial momentum.
The Bullish Case for NVDA Stock
NVIDIA’s latest strong Data Center performance demonstrated its position as a leader in hyperscale AI infrastructure investment worldwide. In the fiscal first quarter of 2027, NVIDIA’s Data Center segment generated a record $75.2 billion in revenues, up 92% year over year and 21% sequentially, according to nvidia.news.nvidia.com.
NVIDIA reported revenues of $81.6 billion in the fiscal first quarter of 2027, a new record, up 85% from a year ago and 20% sequentially. Despite its massive size, NVIDIA’s revenues continue to grow, driven by strong demand for its cutting-edge AI chips, networking solutions, and data center infrastructure that support large-scale AI training and inference workloads. NVIDIA projects fiscal second-quarter of 2027 revenues of $91 billion, plus or minus 2%.
Additionally, NVIDIA continues to deliver strong margins, reflecting its pricing power in graphics processing units (GPUs) and AI accelerators, while maintaining sustained demand for its products across the AI and data center markets. For the fiscal first quarter of 2027, NVIDIA’s non-GAAP gross margin was 75%, and is expected to remain near 75% for the fiscal second quarter of 2027, a tell-tale sign that the company is capable of maintaining strong profitability.
Micron Has the Edge: Why It’s a Better AI Buy Than NVIDIA Now
Strong AI-infrastructure demand is currently driving the bullish outlook for both Micron and NVIDIA. However, Micron appears to offer a more attractive valuation than NVIDIA at the current levels.
Per the price/earnings ratio, MU trades at 16.65 forward earnings compared with NVDA’s forward earnings multiple of 22.97. Since NVIDIA trades at a premium valuation, the company needs to deliver strong growth to justify further upside. On the other hand, Micron can outperform through steady and sustainable earnings growth.
Image Source: Zacks Investment Research
Additionally, Micron is no longer viewed as a traditional cyclical memory company; it has elevated itself to become a key supplier in the AI infrastructure ecosystem. Micron has sold a significant amount of its HBM capacity through 2026 amid strong AI-driven demand. The HBM supply constraint has given the company a strong pricing power, boosting profit margins, improving revenue visibility and creating further upside potential for the stock.
In contrast, much of NVIDIA’s strong quarterly performance already appears reflected in its share price, and the ongoing China-related export curbs could create pressure on future growth. Therefore, currently Micron looks like the more compelling investment opportunity.
While Micron has a Zacks Rank #1 (Strong Buy), NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Micron Technology, Inc.

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