Is Micron Technology Inc. (NASDAQ:MU) the Top Large-Cap AI Stock to Invest in Currently?

Micron Technology, Inc. (NASDAQ:MU) is making waves in the artificial intelligence industry, positioning itself as a top contender in the market. With a YTD gain of 47.97% as of April 23, Micron Technology is ranked fifth on the list of unstoppable AI stocks to buy now. The company’s intelligent infrastructure supports the development of AI and generative AI applications, offering cutting-edge memory cards and storage SSDs tailored for AI needs.

On May 1, Micron Technology announced the launch of 128GB DDR5 32GB memory modules, catering to the capacity and speed demands of generative AI applications. These memory modules are designed to handle critical AI and Machine Learning applications in data centers, high-performance computing, and in-memory databases.

With 115 hedge fund holders and a collective stake worth $6.14 billion, Micron Technology has garnered significant investor interest. Citadel Investment Group stands out as the top shareholder, with a disclosed position worth $764.5 million as of March 31.

Wall Street analysts are also bullish on Micron Technology, with Morgan Stanley analyst Joseph Moore recently upgrading the stock to equal weight from underweight and raising the price target to $130. Over the past 3 months, 24 Wall Street analysts have maintained a buy rating on Micron Technology, with an average price target of $137.6 and a high forecast of $225.

For investors seeking promising AI stocks, Micron Technology presents a compelling opportunity. To explore other top AI stocks and discover the cheapest AI stock in the market, check out the free report on the 7 Unstoppable Artificial Intelligence (AI) Stocks To Buy.