🚀 2 AI stocks to buy now amid current artificial intelligence tailwinds

1) Micron Technology Inc. (NASDAQ: MU) stock

Micron Technology (NASDAQ: MU) emerges as a strong candidate for investment amidst the current market conditions. The company, a leader in memory and storage solutions, is making significant strides in high-bandwidth memory (HBM) production.

These efforts are expected to drive substantial revenue growth, with projections of billions in sales by fiscal 2025 compared to hundreds of millions in 2024.

- Micron’s extensive market reach, which includes personal computers, mobile, automotive, industrial, and data centers, positions it well to benefit from the proliferation of AI-powered devices.

Analysts predict a significant rebound in Micron’s earnings for fiscal 2024, with an expected 687% surge in earnings per share (EPS) and a 54% increase in sales. Although the stock has recently dipped below its 200-day moving average, it has still gained 8.5% this year.

2) Dell Technologies (NYSE: DELL) stock

Dell (NYSE: DELL) is undergoing a reorganization to streamline its operations and enhance its focus on artificial intelligence.

This includes creating a new group dedicated to AI products and services as part of this reorganization. Despite recent stock price fluctuations, Dell has experienced a resurgence of investor interest due to its high-powered servers capable of running AI workloads.

- Despite these challenges, Dell’s backlog of AI-optimized servers grew by over 30% to $3.8 billion, indicating strong demand. Currently trading around $108, down from a high of $179.70, Dell’s stock still boasts a 40% return since January.

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