Nvidia Hits $4 Trillion Market Cap, Micron May Be the Next AI Winner

Nvidia's $4 trillion market cap cements its position as the dominant force in AI hardware. While it remains a compelling long-term investment, some investors may wonder if there are other AI stocks with upside potential. Micron Technology is an underappreciated player in the AI ecosystem, leading in memory and storage critical for AI workloads. As demand surges for high-bandwidth memory and advanced NAND solutions in AI data centers, Micron stands to benefit significantly, with shares trading at a discount to many AI peers and growth forecasts.

Nvidia (NVDA) has recently reached a staggering $4 trillion market cap, cementing its dominance in the AI hardware sector. The company's leadership in GPUs, data center infrastructure, and the broader AI compute stack has been a significant driver of this growth. While Nvidia remains a compelling long-term investment, some investors are wondering if there are other AI stocks with upside potential.

Micron Technology (MU) is an often underappreciated player in the AI ecosystem. While Nvidia powers the compute side of AI workloads, Micron is a leader in memory and storage, providing essential components for AI training and inference. As demand surges for high-bandwidth memory (HBM), DRAM, and advanced NAND solutions in AI data centers, Micron stands to benefit significantly. The company's sales and earnings have been accelerating higher in recent quarters, indicating strong momentum [1].

Micron's fundamentals are beginning to reflect this momentum. The stock has attracted significant institutional buying year-to-date, and the rebound off the April correction has been particularly strong, signaling a pickup in price momentum and investor conviction. Sales are expected to jump 46% this year and 33% next year, while earnings are projected to surge over 500% this year and grow another 58% in 2026 [1]. Although Micron currently holds a Zacks Rank #3 (Hold), analyst sentiment has turned increasingly bullish, with earnings estimates revised higher by 12% for the current year and 14% for next year [1].

While Nvidia continues to dominate headlines and attract the bulk of investor capital in the AI space, Micron offers a rare combination of explosive earnings growth, improving sentiment, and compelling valuation. Its critical role in supplying the memory infrastructure that underpins AI models puts it in the center of one of the most powerful secular trends in technology today [1]. For investors looking to diversify their AI exposure beyond the obvious names, Micron represents a high-quality, underappreciated way to play the next leg of the AI buildout [1].

References:
[1] https://www.nasdaq.com/articles/nvidia-topping-out-why-micron-might-be-next-ai-winner
[2] https://www.theglobeandmail.com/investing/markets/stocks/PLTR-Q/pressreleases/33364566/prediction-2-ai-stocks-will-be-worth-more-than-palantir-technologies-by-late-2028/