U.S. stocks are drifting near a record as Wall Street’s recent rally loses some momentum. The S&P 500 slipped 0.1% in early trading Thursday, a day after after pulling to the edge of its all-time high set in early December.

Micron (NASDAQ: MU) makes memory chips and storage for phones and computers. However, these chips can also be used for data centers and it is now one of the key players in the AI business. The stock is down 24% from its peak but analysts are eyeing a massive rebound here.

Other analysts seem to agree. Out of 58 analysts that cover the stock on Wall Street, 39 rate it a "buy" and 14 rate it a "strong buy," according to Yahoo! Finance. The software giant is preparing to spend $80 billion on data centers specifically for training, deploying, and operating cloud-based AI applications.

U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies.

Netflix, Oracle and other tech stocks lifted U.S. indexes as their profits pile higher and excitement builds around AI's moneymaking prospects.

But one Wall Street analyst thinks investors should take advantage of that lull. Oppenheimer 's Rick Schafer just made the company one of his top picks for 2025 in the semiconductor sector. His firm's price target of $175 per share would represent a 27% gain from recent levels.

Netflix shot up 14.6% after it reported adding nearly 19 million subscribers during the holiday-season quarter and it topped sales and profit targets. The video streaming service’s expansion into live programming appears to be paying off as it wrapped up its best year ever with more than $40 billion in revenue.

Stocks in Asia moved higher after a morning briefing by Chinese officials showed the government remains determined to boost share prices.

Netflix, Oracle and other technology stocks are lifting U.S. indexes Wednesday as their profits pile higher and excitement builds around the moneymaking prospects of artificial intelligence. The S&P 500 was up 0.