Micron Technology, Inc. (MU): A Bull Case Theory

We came across a bullish thesis on Micron Technology, Inc. (MU) on Substack by Oliver | MMMT Wealth. In this article, we will summarize the bulls’ thesis on MU. Micron Technology, Inc. (MU)'s share was trading at $70.21 as of April 22^nd. MU’s trailing and forward P/E were 16.80 and 10.28 respectively according to Yahoo Finance.

Micron Technology (MU) stands out as one of the highest-quality stocks poised for significant upside, with estimated revenue and EBITDA growth exceeding 20% over the next two years. A key catalyst is Amazon’s reaffirmed commitment to data center CapEx, which directly benefits memory suppliers like MU. Unlike competitors such as Samsung—who have reportedly faced challenges in meeting Nvidia’s testing requirements—Micron has consistently improved each product generation by over 60%, reinforcing its technological edge in the AI and data infrastructure race. Despite this strong momentum, Micron’s valuation remains historically low, with EV/Sales and EV/EBITDA multiples trading below their 3- to 5-year averages. This disconnect between growth potential and market pricing creates an attractive entry point for investors. With macro headwinds not impacting core demand trends in data center infrastructure and AI-driven memory needs accelerating, Micron is uniquely positioned to capitalize on secular tailwinds, offering a compelling combination of growth, quality, and valuation.

Micron Technology, Inc. (MU) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 94 hedge fund portfolios held MU at the end of the fourth quarter which was 107 in the previous quarter. While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.