NVIDIA Corporation (NVDA) has seen modest gains of 8.7% in 2023 despite strong quarterly results. The company’s reliance on advanced chip production from Taiwan Semiconductor Manufacturing Company Limited (TSM) has raised concerns about potential supply-chain disruptions due to geopolitical tensions. Additionally, U.S. restrictions on AI chip exports to China are limiting market access, putting pressure on revenue growth and margins.
In contrast, Micron Technology, Inc. (MU) reported a significant increase in revenue of 74% to $41.46 billion for the fiscal third quarter of 2026, driven by robust AI memory demand. Analysts forecast earnings growth of 790.8% for the current year, with an expected EPS of $73.85, reflecting a year-over-year rise of 501.9%. Meanwhile, Western Digital Corporation (WDC) achieved revenues of $3.34 billion, a 45% increase, with an optimistic outlook of $3.65 billion for the fiscal fourth quarter.
Both Micron and Western Digital have strong growth outlooks, with Micron’s gross margin reaching 84.6% and Western Digital’s expected non-GAAP gross margin projected at 51-52% for the fiscal fourth quarter. Their performance contrasts sharply with NAND competitors like NVIDIA, prompting investors to shift focus towards them as AI-related infrastructure needs increase.
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