Memory-chip maker Micron Technology Inc. (MU, Financials) rose around 6% as positive sentiment about artificial intelligence spending helped the stock rebound from recent volatility. Micron has rebounded almost 5% over the last five sessions, although the shares are still down more than 15% for the month.
Investors looking for more exposure may want to look at three exchange-traded funds with large Micron holdings. The iShares Semiconductor ETF provides diversified exposure to the likes of Nvidia, Advanced Micro Devices and Broadcom. The firm owns 31 equities and has about $44.77 billion in assets. The fund's Micron stake is about 7.74% of the fund.
Micron is Invesco S&P 500 Momentum ETF's biggest holding, comprising roughly 9.48%. The portfolio holds 101 equities and has assets of around $21 billion. The iShares MSCI USA Value Factor ETF has the biggest weighting in Micron at around 19%. The fund has 153 equities in its portfolio and has some $9.18 billion in assets.
TipRanks' analyst-based forecasts indicate all three funds have more than 25% upside but those estimates aren't guaranteed. Investors will next check to see if the increased demand for standard artificial intelligence will carry Micron's recovery and the prospects for memory pricing.