Goldman Says Nvidia and Micron Are the Biggest AI Winners: 5 Stocks to Take Advantage of it Now
Goldman Says Nvidia and Micron Are the Biggest AI Winners: 5 Stocks to Take Advantage of it Now
Jeremy PhillipsWed, May 27, 2026 at 9:13 PM UTC
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Goldman Sachs just named NVIDIA and Micron Technology the biggest AI winners of the next earnings cycle, and the stock is already moving. Micron is up 214% year-to-date. If you are still trying to decide whether the AI compute and memory supply chain has more room, the crowd that owns it has stopped waiting for permission.
1. ASML Holding: The Monopoly You Forgot You Needed
Every advanced AI chip on earth starts on an ASML (NASDAQ:ASML) lithography machine. NVIDIA designs the GPU, TSMC builds it, Micron stacks the memory around it, but none of it exists without the EUV scanners that only one company on the planet sells. That is the surprise sitting at the top of this list: the AI trade has a true single point of dependency, and Goldman's bullish chip forecast feeds straight into ASML's order book before anyone else's.
The Q1 2026 earnings report said the quiet part out loud. ASML delivered EPS of $8.43 on revenue of $10.34B with gross margin at 53%, and management raised the full year outlook to $42.47B to $47.19B in revenue. CEO Christophe Fouquet said "Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond." Backstop the thesis with a €12B share buyback running through December 31, 2028 and you have a monopoly returning capital while demand re-rates.
The stock is already up 53% year-to-date and trades at a forward P/E of 45, so the easy money is gone. The setup that comes next is louder, more crowded, and has its own custom-silicon weapon.
2. Broadcom: The Hyperscaler Escape Hatch
Every hyperscaler that writes NVIDIA a $10 billion check this year is simultaneously writing Broadcom (NASDAQ:AVGO) a check to build the custom XPU that lets them stop writing NVIDIA checks. Google, Meta, and the rest of the cloud aristocracy are designing their own AI accelerators with Broadcom and pairing them with Broadcom's Ethernet AI switches. If you think the AI buildout has another two years of runway, Broadcom is the only name that wins whether NVIDIA's share goes up or down.
The Q1 FY2026 numbers are the proof: AI semiconductor revenue hit $8.40B, up 106% year-over-year, adjusted EBITDA hit a record $13.13B at a 68% margin, and CEO Hock Tan told the Street to expect $10.7B in AI semiconductor revenue in Q2. The longer arc matters more: Tan is publicly targeting $100B+ in AI sales by 2027. Polymarket traders are pricing in a 94.4% probability Broadcom beats on June 3.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and ASML didn't make the cut. Grab the names FREE today.
Analysts carry a $480 price target on shares trading near $423, and the company is buying back another $10B of stock through year end. The next name on this list is the one Goldman pounded the table for, and the one every retail trader already owns.
3. NVIDIA: The Goldman-Blessed Heavyweight
This is the obvious one. NVIDIA (NASDAQ:NVDA) is Goldman's named #1 AI winner and the picks-and-shovels king of the entire AI factory era. I have owned NVIDIA for over 15 years, and the only thing more remarkable than the run is how the fundamentals keep validating it. CEO Jensen Huang called this "the largest infrastructure expansion in human history" on the most recent call, and he was not selling anything he had not already shipped.
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Q1 FY2027 results filed May 20: revenue of $81.6 billion, up 85% year-over-year, with Data Center revenue of $75.2 billion and Data Center Networking up 199% to $14.8 billion. Q2 guidance pointed to $91.0 billion in revenue at a 75% gross margin. Management also flagged $119.0 billion in total supply commitments, an $80 billion new buyback, and a dividend lift from $0.01 to $0.25.
Here is the catch: shares are only up 15% year-to-date, dramatically lagging ASML and Micron. Reddit sentiment has flipped bearish, with retail fixated on H200 GPU rental prices falling 38% in the second half of May. You should treat the relative underperformance as fuel if you believe Goldman's call, and as a warning if you believe the rental data. The next name is what physically makes every NVIDIA chip exist.
4. Taiwan Semiconductor: No TSMC, No AI
Every NVIDIA Blackwell, every Broadcom XPU, every Apple chip: built at Taiwan Semiconductor Manufacturing (NYSE:TSM). The foundry is the choke point between chip design and physical reality, and capacity is sold out years deep. If Goldman is right that AI capex compounds through 2027, TSMC is the toll bridge that collects on every car crossing.
Q1 2026 net sales hit NT$1.13 trillion with net income of NT$572.48B, and the board approved ~$31.3B in new capital appropriations for advanced node capacity plus up to $20B in capital injections into TSMC Arizona. Analysts now model 22.5% annual earnings growth and 19.1% revenue growth. The stock has responded: shares are up 36% year-to-date and 117% over the past year.
If you want exposure to the AI buildout without picking which chip designer wins, this is the cleanest single-position trade in the supply chain. The last name on this list is the one Goldman put on the marquee with NVIDIA, and the chart is doing something I have rarely seen in a $1 trillion company.
5. Micron Technology: The Goldman Payoff Trade
Goldman's other named AI winner. The only US-based memory manufacturer. The HBM stack that sits inches from every Blackwell GPU on every hyperscaler rack. Micron Technology (NASDAQ:MU) is the trade where the supply-demand math has fully broken loose from anything that looked normal a year ago. I have been studying memory cycles since the early 2010s, and what is happening right now in HBM has no precedent.
Q1 FY2026 results, filed December 17: non-GAAP EPS of $4.78 beating consensus, revenue of $13.64B up 56.6% year-over-year. The Cloud Memory Business Unit alone did $5.28B in revenue at a 66% gross margin and 55% operating margin. Q2 guidance: revenue of $18.70B and non-GAAP EPS of $8.42. CEO Sanjay Mehrotra said "Our Q2 outlook reflects substantial records across revenue, gross margin, EPS and free cash flow... Micron's technology leadership, differentiated product portfolio, and strong operational execution position us as an essential AI enabler."
The stock is up 214% year-to-date and 861% over the past year, and a Reddit post titled "Okay Micron has gone crazy" drew 627 upvotes the day it crossed a $1 trillion market cap. UBS raised its price target from $535 to $1,625. Order books reportedly stretch into 2027.
Here's the play
This has been working for months and year now. ASML supplies the machine, TSMC fabricates the chip, NVIDIA and Broadcom design what fabs build, and Micron stacks the memory that makes any of it useful. You either own the supply chain or you watch it re-rate without you. Earnings season starts compressing in two weeks, and the prediction markets are already pricing 96.5% odds NVDA holds above $210 by today's close. The window where this still looks like a story is closing.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and ASML didn't make the cut. Grab the names FREE today.
Source: “AOL Money”
