According financial disclosure reports, investment accounts associated with President Donald Trump sold Micron (MU) stock and purchased Nvidia (NVDA). The reports show that the accounts sold $90,000 to $116,000 worth of Micron (MU) stock and purchased $246,000 to $3.7 million worth of Nvidia (NVDA). It should be noted that the sale does not mean that the accounts does not hold any more MU stock, but simply that it was a net seller of the asset.
Should You Follow President Trump’s Accounts And Sell Micron For Nvidia?
Before we discuss whether you should follow the accounts associated with President Trump, it should be noted that the President may not have personally decide the sale and purchase of stocks. It is likely that that President Trump has third-party managers who handle his portfolio.
First, let’s break down why the asset managers may have decided to sell Micron (MU) stock for Nvidia (NVDA). Both Micron (MU) and Nvidia (NVDA) have been incredible profitable in the last few years. It is possible that the asset managers view Nvidia in a more favorable light right now. It is also possible that the fund managers are doing some risk assessment and reorganizing the portfolio.
Micron (MU) has been one of the major beneficiaries of the AI boom. The company is one of the big three in AI memory chip manufacturing, behind SK Hynix and Samsung Electronics. What makes Micron unique is that it is the only US-based company that is operating at scale in this industry.
Also Read: JP Morgan Provides New Price Target For Micron Stock (MU)
Before you decide to follow President Trump’s account and sell your Micron stock, you should know that Wall Street analysts are increasingly bullish on Micron (MU). Barclays and Cantor Fitzgerald anticipate the stock to hit $2000. Wall Street’s optimistic outlook on Micron hinges on several factors. Increased AI spending in the future and the high demand for AI memory chips are two of the most important. Micron also announced a $250 billion investment plan for the uS to ramp up domestic production.