Top AI Stocks Beyond Nvidia: Micron Technologies and Taiwan Semiconductor Manufacturing

Friday, 29 March 2024, 19:05

Discover compelling investment opportunities in the AI sector beyond Nvidia. Micron Technologies and Taiwan Semiconductor Manufacturing emerge as promising stocks set to thrive in the AI era. With a focus on memory chips and advanced chip manufacturing, both companies exhibit significant potential for record revenue growth and profitability, positioning them as strong contenders in the evolving AI market.
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Top AI Stocks Beyond Nvidia: Micron Technologies and Taiwan Semiconductor Manufacturing

Introduction

There are more ways to play the AI boom than just Nvidia. The AI bull market is here. Stocks are back at all-time highs, thanks largely to a new boom in artificial intelligence (AI).

Micron Technologies - A Promising Contender

Micron Technologies (NASDAQ: MU) is a leader in memory chips, essential for AI servers. As demand for AI servers grows, Micron anticipates record revenue and profitability in the upcoming years. CEO Sanjay Mehrotra foresees significant growth opportunities for Micron in the AI sphere, making it a potential winner in the AI market.

Taiwan Semiconductor Manufacturing - The Giant in Chip Manufacturing

Taiwan Semiconductor Manufacturing (NYSE: TSM), the world's largest contract semiconductor foundry, dominates chip manufacturing with a market share exceeding 50%. Its advanced chip production caters to AI models, solidifying its position in the industry. TSMC's profitability, affordability, and market power ensure its resilience and potential for continuous growth in the AI market.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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