Prediction: This Artificial Intelligence (AI) Infrastructure Stock Will Skyrocket in June (Hint: It's Not Micron Technology)

Micron Technology is a widely followed artificial intelligence (AI) infrastructure stock, as it supplies a critical component in the form of memory chips that go into a variety of AI accelerator chips.

The company's revenue and earnings have been growing rapidly, driven by an acute shortage of memory chips. Micron is poised to release its fiscal 2026 third-quarter results on June 24, and there is a solid chance it will crush expectations and deliver terrific guidance that could send the stock soaring.

However, there's another underrated AI infrastructure company that's going to release its fiscal 2026 Q3 earnings report on June 17 -- Jabil (NYSE: JBL). This AI stock has jumped 60% in 2026, and there is a good chance it will get a nice shot in the arm following its upcoming report. Let's look at the reasons why.

Image source: Getty Images.

AI is accelerating Jabil's growth

When Jabil released its fiscal Q2 results in March, the company reported a 23% year-over-year increase in revenue to $8.3 billion. For comparison, Jabil's revenue was flat in the same quarter last year. What's more, the company's earnings per share jumped by 38% year over year to $2.69 in fiscal Q2.

The company's revenue guidance for fiscal Q3 calls for $8.5 billion in revenue and $3.03 in earnings per share at the midpoint. That points toward a potential year-over-year increase of 9% in revenue and a 19% jump in earnings. However, Jabil could deliver stronger growth, as demand for its AI servers and racks is exceeding supply.

Jabil makes rack-scale servers, liquid-cooling systems, and power management solutions deployed in AI data centers. The company anticipates a 46% increase in its AI revenue this year to $13.1 billion, driven by red-hot demand for AI servers. In fact, Jabil increased its AI revenue outlook by $1 billion when it reported its results in March, and don't be surprised to see it do something similar once again.

I say this because Jabil management noted in its March earnings call that it is on track to add a third hyperscaler customer for its data center offerings. This could pave the way for a stronger-than-expected outlook, giving Jabil stock a nice boost following its quarterly report.

The stock's attractive valuation makes it a no-brainer buy

Jabil stock trades at 52 times earnings following its impressive jump this year. However, the forward earnings multiple of 28 is significantly lower, suggesting that its earnings are poised to increase at a nice clip. We have already seen that Jabil's growth accelerated strongly last quarter, and this trend could continue in the long run, as the AI server market is anticipated to grow at an annual rate of 34% through 2030.

We have already seen Dell Technologies delivering phenomenal results recently due to booming AI server demand, and Jabil could follow suit. That's why investors can consider buying this AI infrastructure play before it steps on the gas.

Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.