Could this AI Stock be a Bargain in June compared to Expensive Nvidia Stock?

Investors looking to capitalize on the growth of artificial intelligence (AI) may want to consider investing in Micron Technology. While NVIDIA has enjoyed remarkable success in recent years due to AI applications, it is now a highly priced stock, making it difficult for investors to buy in. Micron Technology, on the other hand, is now considered a potentially cheaper way to tap into the AI sector. The company initially made headlines for the wrong reasons when it faced a ban in China for its alleged involvement in serious network security risks, but this event does not detract from its high potential as an AI player. Micron expects a 39% decline in year-over-year revenue, which is exceedingly worse due to the oversupply of memory chips leading to a drop in prices. However, the company notes that demand could still grow significantly, especially as the sector continues to grow at an annualized rate of 25.6%, according to Straits Research. The demand for high-bandwidth memory could help address the oversupply, reversing Micron’s fortunes in the long term. As such, it may be a good time for investors to invest in Micron stock at its current price while considering its long-term potential as a top AI stock.