Micron Technology Co., Ltd. (NASDAQ:Mu) is one of them. The most profitable tech stocks to buy. Micron Technology announced on December 3 that it will withdraw from the consumer memory business, which includes selling products under the Crucial brand. This is being done to double the number of advanced memory chips used in AI data centers, an area facing global supply shortages. Micron's consumer memory units were not considered a key driver of the company's overall business.
Micron will cease selling Crucial consumer brand products at retailers, e-tailers and distributors worldwide, but product shipments through consumer channels will continue through the end of the second quarter (February 2026). This decision reflects Micron's commitment to portfolio transformation, allowing it to focus on core enterprise and commercial segments that deliver longer-term, more profitable growth.
The company is shifting its focus to high-bandwidth memory/HBM, a type of dynamic random access memory/DRAM that stacks chips vertically. HBM chips are essential for AI development because they reduce power consumption, help process the large amounts of data required for AI workloads, and offer higher prices and greater profits than consumer memory. This field is the most competitive among the world's three largest memory suppliers: Micron, Korea's SK Hynix, and Samsung.
Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures and markets memory and storage products in the United States, Taiwan, Singapore, Japan, Malaysia, China, India and internationally.
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Read next: 30 stocks that should double in 3 years and 11 hidden AI stocks to buy right now.
Disclosure: None. This article was first published Insider Monkey.
