Micron Technology (MU)

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Micron Technology ( MU 3.37% ) is a top producer of memory and storage chips, and while this portion of the market might seem less glamorous, it's equally important (and profitable). Micron's products are most often used in personal computing and data center applications, but it's making rapid progress in high-growth segments like mobile and electric vehicles, especially those with autonomous (self-driving) features.

Smartphones with the capability to run on the 5G network require up to 50% more memory than their 4G-enabled counterparts -- plus double the storage capacity -- and Micron produces the fastest mobile DRAM product available today. That offers the company a sizable opportunity for organic growth merely through the global transition to 5G.

But traditional end markets like the data center, personal computing, and graphics still generate the bulk of Micron's revenue, which topped $27.7 billion in fiscal 2021. Analysts think that will grow to over $32 billion in 2022, alongside $9.04 in earnings per share, with one Wall Street firm, in particular, betting Micron stock could more than double from its current price.

https://www.fool.com/investing/2022/03/08/5-semiconductor-growth-stocks-to-buy-now-and-hold/