Maham Fatima
2 min read
In This Article:
Micron Technology Inc. (NASDAQ:MU) is one of the 11 most profitable NASDAQ stocks to buy now. On June 12, Micron Technology announced a substantial investment of ~$200 billion to support its US manufacturing and R&D capabilities. This move aligns with President Donald Trump’s initiative to boost domestic chip production and reduce reliance on foreign manufacturing.
The total investment includes ~$150 billion specifically allocated for domestic manufacturing capacity and another ~$50 billion for R&D. This expanded manufacturing footprint will encompass a second advanced memory fabrication plant in Boise, Idaho (alongside its existing R&D operations), up to 4 leading-edge high-volume fabs in New York, and the expansion & modernization of its existing manufacturing fab in Manassas, Virginia.
A close-up view of a computer motherboard with integrated semiconductor chips.
A key focus of this investment is to accelerate the development and production of advanced HBM products, which are crucial components in AI data centers. Micron anticipates its initial Idaho plant to begin producing hardware in 2027 and expects to commence ground preparation for its New York facilities later this year. The company aims to produce 40% of its DRAM memory in the US as a result of these investments.
Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products internationally. The company operates through 4 segments: Compute & Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit.
While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
