To meet the demands of artificial intelligence (AI) systems, tech companies have been investing heavily in new infrastructure. Micron Technology (MU 8.79%) is one of the companies best positioned to benefit from this spending.
Micron produces memory and storage solutions. While AI is known for its processing needs, driving demand for advanced semiconductors, it also requires a substantial amount of memory. Micron's memory chips and other data storage products fill that need, which has led to excellent financial results recently and could make this a high-growth company over the next five years.

Image source: Getty Images.
Record numbers with more growth expected
Micron recently reported results for Q4 and its full 2025 fiscal year, which ended on Aug. 28, 2025, and numbers were up across the board. Revenue for the full year was up 49% to a record high of $37.4 billion. Net income increased by 998% from $778 million to $8.5 billion, and earnings per share (EPS) increased 984% to $7.59.
There's clearly growing demand for Micron's memory products, and it's forecasting even better numbers to kick off its 2026 fiscal year. Revenue projections are $12.5 billion in the first quarter, and the EPS projection is $3.56.
The immediate outlook is good for Micron, and the long-term outlook is even better. Tech companies are already spending heavily on AI data centers, with $430 billion invested in 2024, and that's expected to go up to $1.1 trillion by 2029. If data center spending continues to rise as expected, Micron could continue to outperform the market.
This is also a rare AI stock with a fairly low valuation right now. Micron is trading at 21 times earnings and just 10 times forward earnings, making it downright cheap compared to many of its peers. With that valuation, and a strong position in the AI supply chain, Micron is a great company to buy and hold to 2030 and beyond.