Nvidia and Micron Enjoy Strong AI Chip Demand, But Micron Could Offer More Value
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Nvidia's AI chips see booming demand, powering over 250% stock gains last year with growth continuing in 2024. Blackwell chips arriving later in 2024 expected to further boost growth.
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Micron supplies high-bandwidth memory (HBM) chips that power Nvidia's AI GPUs. Seeing surging HBM demand and revenue.
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Nvidia trading at rich valuations of almost 37x sales. Micron cheaper at 6.4x sales, could be better value AI play.
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Micron's growth accelerating too - 57% revenue jump last quarter, expecting 76% growth next quarter.
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AI chip market booming overall, expected to hit $91 billion by 2030. Tailwind for both companies.