Mike Murphy Picks Micron Technology Stocks: Demand for Chips Is in Their Corner

EXCERPT:

MURPHY: “So I think — we talk about AI, we talk about the demand for chips, but people have said Micron has gone up too much or Micron is too expensive, over $1,000, Micron is now valued at $1.2 trillion. Yes to all of those. But there is a demand for their chips that you can’t get the — there’s not an unlimited supply of them. So, they have supply demand in their corner and they still trade relatively cheap, call it roughly 10 times next year’s earnings. So if you look from a value standpoint, yes, there is a lot of volatility in the stock, it trades kind of a proxy for AI or the AI trade. But ultimately, will they sell more chips next quarter and the quarter after that? I think the answer is easy. Yes."