Join Paul Meeks, CFA, CAIA, Top Tech Analyst, Portfolio Manager, & Commentator each week on BenzingaTV, as he delves into the latest developments in the tech sector, covering the giants that shape our digital world. From earnings reports to groundbreaking innovations, Meeks provides insightful analysis and expert commentary on companies like Apple, Microsoft, Amazon, and more!
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00:00My favorite stock pick, it's done very well for you. I wanted to give you an update because last
00:05time I appeared it actually had a little bit of a dip. I said it was a buying opportunity,
00:09it's bounced back since then. But when Micron, ticker symbol MU, which is one of the leaders
00:15in the world in memory chips, and of course artificial intelligence has a voracious demand
00:22for memory chips, when they announced their quarter a couple weeks ago everything was kosher
00:28except their revenue guidance for the next quarter, which is the quarter we're in now,
00:32ended August, was only in line with the street instead of better than the street. So the
00:37expectations has gotten high and the disappointment was Micron is only going to grow its sales this
00:44quarter by 90 plus percent. I think that's pretty good, good enough for government work.
00:49So I continue to like Micron. The stock held up very nicely at 50-day moving average support,
00:57which is about 129 bucks. Stock has bounced since then, not much, still buyable, $132 a share today
01:04and I think over the next couple years this stock goes to $200 a share. So not only is it my
01:11favorite AI infrastructure build-out bet, my favorite tech idea.