Despite broad gains over the last few years, investors can still find value in the semiconductor space.

Nvidia and Advanced Micro Devices supply some of the world's most sought-after graphics processing units (GPUs) for data centers, which are the primary chips used in artificial intelligence (AI) development. As a result, when Wall Street talks about semiconductor companies, those two names get the most attention.

But without high-bandwidth memory (HBM), GPUs wouldn't be nearly as powerful, and Micron Technology ( MU 0.37% ) is one of the world's top suppliers of this hardware. In fact, both Nvidia and AMD are now using Micron's HBM in their latest AI GPUs, which is driving a surge in the company's revenue.

On Wednesday, Micron released its financial results for the fi

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