Forget Nvidia: 2 Super Semiconductor Stocks to Buy Right Now, According to Wall Street

Core Insights - Nvidia has seen a significant increase in its market cap, reaching $2.35 trillion, largely due to its GPUs for AI applications, but the AI chip market is expanding with other competitors gaining traction [1] - Analysts are optimistic about Advanced Micro Devices (AMD) and Micron Technology, suggesting they present strong investment opportunities in the AI chip sector [1] Group 1: Advanced Micro Devices (AMD) - AMD is shipping its MI300 series of data center chips, which includes the MI300X GPU and the MI300A APU, with strong demand leading to an expected $4 billion in sales for 2024, up from a previous forecast of $2 billion [2][3] - The company has gained significant commercial customers, including Microsoft, Oracle, and Meta Platforms, indicating a shift in market share from Nvidia [3] - AMD's Ryzen AI CPUs and GPUs have contributed to a notable revenue increase in its client segment, reaching nearly $1.4 billion in Q1 2024, an 85% year-over-year growth [3][4] Group 2: Micron Technology - Micron specializes in memory (DRAM) and storage (NAND) chips, which are essential for AI applications, and its HBM3E memory is used in Nvidia's new H200 GPU [5][6] - The HBM3E memory consumes 30% less power than competitors, making it attractive for data center operators facing rising electricity costs [6] - Micron's revenue for Q2 2024 was $5.8 billion, a 57% increase year-over-year, with guidance for Q3 indicating accelerated growth of 76% [7][8]