Micron Technology (MU)

When everything's going up together, makes it harder to differentiate on a technical basis. He compares stocks head to head using charts to see which are outperforming.

Right now, NVDA has been the highest ranked stock in US reports, and that's the one he holds. In Canada, CLS has been the highest-ranked stock, and his portfolios hold that as well. MU has been trailing a bit, but might catch up, hard to say.

Just yesterday, BAC listed it as one of its favourites, with a 12-month price target of $175. His own target is between $155-160. 2/3 of revenue is in DRAM, and that's why it's done so well, especially needed for AI.

Pretty fully priced. He's taken profits. You could probably look a little further down the food chain, perhaps at some of the equipment suppliers like ASML or ALAB.

AI is in its infancy, major driver of profitability. Has come down with the market, so at a relatively good level. Lots of upside on fundamentals and technicals. The price target is $132, but could go as high as $150. This type of name should perform well in this phase of the market. Yield is 0.4%.

Memory in chips is cyclical, boom/bust. Just came out of a prolonged down cycle. On the other side now. Exposure to high bandwidth memory, needed for AI applications. Chips are sold out for most of fiscal 2025 already. Yield is 0.4%.

It is best for the storage component of AI. He likes the short term outlook and it has been getting traction so you could add at this point. It can be quite volatile.

Is -7% in the past month. The stock bottomed when the CEO said it would. He's more bullish than the CEO, and shares are going higher.

It can tread water and return to the high-$70s. If there's a PC refresh cycle this year, MU won't stay this long. But some now and more in the high-$70s.

They report Wednesday. This has a habit of shares running up till reporting, then it drops after reporting. If you can handle this volatility, buy some before, then after the report. Their prospects are directly tied to a winder economic expansion. Also, there's a new refresh cycle coming in PC sales.