Technology stocks, including stocks of chip companies, have been under pressure recently amid geopolitical tensions in the Middle East. Several investors are moving away from tech stocks to safer bets in other sectors, given concerns about an economic slowdown amid a surge in oil prices. Nonetheless, Wall Street remains optimistic about the long-term growth potential of several chip stocks, given the robust artificial intelligence (AI)-led demand. Using TipRanks’ Stock Comparison Tool, we placed Micron Technology (MU), Nvidia (NVDA), and Advanced Micro Devices (AMD) against each other to find the best chip stock, according to analysts.
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Micron Technology (NASDAQ:MU) Stock
Shares of Micron Technology have rallied 292% over the past year, driven by robust demand for memory amid the AI boom and elevated pricing due to tight supply. The company recently reported impressive results for the fiscal second quarter. However, MU stock has pulled back more than 15% over the past five trading sessions amid worries about high capex and the impact of Alphabet-owned Google’s (GOOGL) new compression method, TurboQuant, on the amount of memory required to run large language models.
Nonetheless, most analysts remain bullish on Micron stock due to the continued demand for memory to support complex AI workloads.
Is MU a Good Stock to Buy Right Now?
Last week, Morgan Stanley analyst Joseph Moore reiterated a Buy rating on Micron Technology, saying he views the pullback in the stock as a “healthy pricing in of durability concerns,” such as those related to capital expenditure, demand destruction, and productivity.
The 5-star analyst believes that the strength in memory demand is more durable than the market expects, with limited supply acting as a major hurdle for AI growth. Also, following talks with industry contacts, Moore noted that Google’s TurboQuant memory optimization is an “evolutionary development, with basically no surprises for memory.”
With 26 Buys and two Hold recommendations, Micron stock scores a Strong Buy consensus rating. The average MU stock price target of $536.55 indicates 50.2% upside potential.
Nvidia (NASDAQ:NVDA) Stock
Nvidia stock is down 10% so far in 2026, but has gained 50% over the past year. The semiconductor giant continues to witness robust demand for its AI GPUs (graphics processing units). However, shares have been under pressure owing to concerns about rising competition in the AI chip market and a shift from tech stocks toward safer sectors amid the U.S.-Iran war.
Meanwhile, CEO Jensen Huang discussed key updates at the recently held GTC event, which reinforced the optimistic investment stance of Nvidia bulls. Notably, the company expects purchase orders between the Blackwell and Vera Rubin platforms to reach $1 trillion through 2027, compared to the $500 billion projection made last year.
Is NVDA Stock a Buy Right Now?
Recently, Wolfe Research analyst Chris Caso reiterated a Buy rating on Nvidia stock with a price target of $275. The 5-star analyst stated that Nvidia’s comments suggest about 14% to 17% upside to consensus data center estimates through FY28 under his base-case assumptions and more than 25% upside in his bull-case thesis. Caso expects Nvidia’s new products to offer additional upside.
Overall, Caso expects base and bull-case EPS of about $12.50 and $14, respectively. These projections don’t include potential upside from new products, which the analyst expects to drive an additional $50 billion in FY28 revenue for “each additional 10% attach” of new data center products. With NVDA shares trading at just 13x his bull-case EPS, Caso thinks the stock is too “cheap to ignore” and continues to be his favorite idea.
Overall, Wall Street has a Strong Buy consensus rating on Nvidia stock based on 41 Buys and one Hold. The average NVDA stock price target of $273.34 indicates 63.2% upside potential.
Advanced Micro Devices (NASDAQ:AMD) Stock
AMD stock has risen more than 89% over the past year despite the 6% pullback since the beginning of 2026 amid broader market concerns about the U.S.-Iran conflict. The jump in the stock over the past year has been driven by optimism about the growing demand for AMD’s AI GPUs and continued strength in the server CPU (central processing unit) market.
Additionally, strategic deals with OpenAI, Oracle (ORCL), and most recently, Meta Platforms (META) have boosted confidence in AMD’s growth potential. Specifically, the multiyear deal with social media giant Meta Platforms includes deploying up to 6 gigawatts of the chipmaker’s GPUs for AI data centers and using AI-optimized CPUs. However, some analysts are cautious about AMD stock due to valuation concerns, pressure in some segments, such as gaming, and high customer concentration in the company’s GPU business.
Is AMD Stock a Buy or Sell Now?
Following AMD’s pre-quiet period call on March 13, Wolfe’s Chris Caso reaffirmed a Buy rating on AMD stock with a price target of $300. Caso noted that AMD indicated incremental caution in its client and gaming businesses due to higher memory pricing. That said, server momentum continues to improve. The analyst added that AMD remains confident about its roadmap and customer traction for AI accelerators.
Caso highlighted that AMD doesn’t expect further deals involving warrants, beyond the OpenAI and Meta Platform partnerships. While the analyst expects the Street’s estimates to be revised slightly downward on more conservative client and gaming expectations, he remains optimistic about the chipmaker’s ability to deliver EPS of about $13, driven by demand for its AI accelerators and server CPUs.
Currently, Wall Street has a Moderate Buy consensus rating on Advanced Micro Devices stock based on 21 Buys and eight Holds. The average AMD stock price target of $284.96 indicates 41% upside potential.
Conclusion
Wall Street is highly bullish on Micron and Nvidia stocks and cautiously optimistic on AMD. Currently, analysts see higher upside potential in NVDA stock than in the other two chip stocks. Despite concerns about growing competition, Nvidia continues to dominate the AI GPU market. Analysts are optimistic about continued momentum in Nvidia’s business, driven by innovative offerings, solid execution, and strategic deals. According to TipRanks’ Smart Score System, Nvidia earns a score of 9 out of 10, indicating that the stock has the ability to outperform the broader market over the long term.
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