We recently published a list of . In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other AI stocks on Wall Street’s radar.

Days after the Biden-era rule on AI chips export was rescinded, a bipartisan group of eight U.S. lawmakers has now introduced a bill requiring makers of artificial intelligence chips to include technology that verifies the location of their chips before exporting them.

Introduced in the U.S. House of Representatives, the Chip Security Act will aim to address reports of U.S. export-controlled AI chips being smuggled into China.

The bill comes shortly after US President Donald Trump began his tour of the Middle East this week, announcing several deals that will send AI chips to countries in the Middle East. This has been despite growing opposition from some inside the US government.

“In order for the United States to maintain our technological advantage, we must employ safeguards to help ensure export controls are not being circumvented, allowing these advanced AI chips to fall into the hands of nefarious actors.”

For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points  ().

A close-up view of a computer motherboard with integrated semiconductor chips.

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide. On May 15, Christopher Danely from Citi maintained a “Buy” rating on the stock with a price target of $110.00.

A few days prior, J.P. Morgan analyst Harlan Sur maintained their bullish stance on the stock, giving a Buy rating on April 30. Sur’s buy rating stems from Micron’s strong growth potential and robust market position. In particular, the demand for its DRAM and NAND products is a strong catalyst in the datacenter sector. A pricing inflection has also been observed, which is pointing to favorable market conditions.