Micron Technology stock is the top performer in the S&P 500 this year, and while analysts are generally optimistic about its performance, some have lingering doubts. Shares of the memory and storage company were up over 18% this year through Wednesday’s close,

S&P 500 gainers on the year. And there could be much more upside in store, according to New Street Research analysts led by Pierre Ferragu, who named the stock one of his top picks for 2025 on Wednesday.

Nvidia said it was using Micron components in its Blackwell platform, and is now believed to be Micron's biggest customer. Micron looks like a bargain compared to its chip stock peers. According to data from S&P Global Market Intelligence,