
NASDAQ:MU
Not a direct competitor to NVDA, but very strong in DRAM and NAND markets. Impressed by mid-quarter update which boosted earnings projections by 10-15% for the quarter. Cheaper than peers in the space, could be re-rated when the market wakes up to that.
Another way to access and get excited about the AI buildout. Yield is 0.38%.
Hyper-cyclical earnings. Storage and memory chips, which are like a commodity and so you have big swings. Consensus is for earnings to grow over 400% this year, not because of innovation but because of the demand cycle. Go back 10 years and this name has generated a total compound return of 10%, which is less than the S&P. Beta is 1.9.
Usually cyclical. But demand is very strong from those involved in AI, data centres, and the cloud. Looks as though the run will extend. He has a 12-month price target of $286, still a decent runway.