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NVIDIA vs. Micron Technology: Which Semiconductor Stock is a Better Buy?

Stock MarketsJul 28, 2021 01:30PM ET
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© Reuters. NVIDIA vs. Micron Technology: Which Semiconductor Stock is a Better Buy?

Amid ongoing global digitalization, the demand for semiconductors is increasing rapidly due to their broad application in advanced electronic devices. There is also sky-high demand for semiconductors from auto manufacturers. This, together with a supply shortage, is driving up the price of semiconductor chips. Consequently, we think Micron (MU) and NVIDIA (NVDA) should benefit in the near term. But which of these two stocks is a better buy now? Read more to find out.Micron Technology, Inc. (NASDAQ:MU) designs, manufactures and sells memory and storage products worldwide. The company operates through four segments: its Compute and Networking Business Unit; Mobile Business Unit; Storage Business Unit; and Embedded Business Unit. In comparison, NVIDIA Corporation (NASDAQ:NVDA) is an artificial intelligence (AI) computing company that operates in two segments: Graphics and Compute & Networking.

While the current global semiconductor shortage has been impacting several industries, the semiconductor industry has been thriving due to the rising prices of chips. Increased demand for chips, primarily from the consumer electronics and automotive industries, and a supply shortage, are driving the rising prices. According to a Technavio report, the global semiconductor market is expected to grow at a 4% CAGR between 2020 - 2024. Both MU and NVDA should benefit as a result.

NVDA has gained 42.8% over the past nine months, while MU returned 43.4%. However, NVDA’s 84.3% gains over the past year are significantly higher than MU’s 43.9% returns. Moreover, in terms of their past six months’ performance, NVDA is the clear winner with 48.7% gains versus MU’s negative returns.

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NVIDIA vs. Micron Technology: Which Semiconductor Stock is a Better Buy?
 

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Comments (1)
Gershom Zvi
Gershom Zvi Jul 30, 2021 12:57AM ET
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NVDA Strong buy !
 
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