$Micron Technology(MU)$ There are still indicators that AI investment remains alive.
J.P. Morgan projects roughly $900 billion in AI capital expenditures in 2026 and $5.5 trillion in cumulative spending through 2030.
Goldman Sachs estimates global AI investment will exceed $1 trillion in 2026.
IDC forecasts the semiconductor industry will reach $1.29 trillion in revenue in 2026, with AI infrastructure driving much of the growth.
These are forecasts, not guaranteed outcomes, but they hardly suggest AI investment is dead.
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$Alphabet(GOOG)$
$Apple(AAPL)$ Bullish
It's beautiful when a company like Google admits that their own AI is eating up their own Google Ad revenue !!!
Google-owner Alphabet lost just over $500bn (£374bn) in value on Thursday after it revealed its own artificial intelligence (AI) summaries were hitting search advertising revenue.
Chief business officer Philipp Schindler said Google's "AI mode", where it answers questions conversationally, was eating into the money it makes from ads which appear next to results to traditional search questions.
Yet, Schindler said he felt "very good about our trajectory" with an AI-focused version of the search engine.
Google's role in answering the world's questions has been challenged by the AI boom, with millions of people using programs such as ChatGPT and Claude instead.
In other news, Micron's quarter reads like a commodity super-cycle in motion. GAAP gross margin jumped to 84.6%, from 37.7% a year earlier, and Cloud Memory revenue hit $13.77 billion as hyperscalers scrambled for HBM4. CEO Sanjay Mehrotra told investors the results "reflect the strategic value of memory in the AI era" and pointed to multi-year Strategic Customer Agreements as evidence of locked-in pricing.
Apple's story is steadier and more defensive. iPhone brought in $56.994 billion, Services set a fresh record at $30.976 billion, and Tim Cook cited "extraordinary demand for the iPhone 17 lineup." But the company pushed through a 15% to 54% global price hike on MacBooks and iPads to absorb component inflation, a move that props up the P&L today and risks demand tomorrow.
Micron's forward P/E of 7 versus Apple's 32x makes Micron the cheaper bet despite its triple-digit revenue growth advantage.
Mehrotra sold 94,078 shares into the rally, a cautionary insider signal even as Micron guides Q4 revenue to $50 billion.
In summary, Micron (MU) - Strong Buy, leads the way in stability and hyper growth, while Google (GOOG) and Apple (AAPL) are a Buy rating, given by many analysts.