Prediction: This Artificial Intelligence (AI) Stock Will Skyrocket After March 18 (Hint: It's Not Micron)

Micron Technology (NASDAQ: MU) is scheduled to report fiscal 2026 second-quarter results on Wednesday, March 18. The market expects the memory specialist's report to offer insight on whether it can soar even higher following a stunning 323% surge in the past year.

The signs are positive for Micron heading into its quarterly report. Memory chips continue to generate terrific demand from artificial intelligence (AI) data centers, and supply constraints mean prices will remain high. However, Micron isn't the only company poised to release solid quarterly results this week.

Contract electronics manufacturer Jabil (NYSE: JBL) also scheduled its quarterly report for March 18. Let's look at the reasons why its upcoming earnings are likely to give Jabil's stock a shot in the arm.

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Jabil's AI business has been gaining solid momentum

AI is turning out to be a terrific catalyst for Jabil. The stock rose following its previous quarterly report, for the fiscal first quarter ended Nov. 30, as its revenue and earnings breezed past Wall Street's expectations.

Jabil management said on the earnings call that "AI continues to be the primary driver of growth," which isn't surprising as hyperscalers tap Jabil's data center infrastructure solutions, including server racks, liquid-cooling products, and power management tools. The company recently increased sales of its data center solutions to its second hyperscaler customer.

Importantly, Jabil is in negotiations for more hyperscalers for its AI-focused solutions, suggesting its revenue pipeline will get stronger. It is worth noting that Jabil increased its fiscal 2026 AI revenue outlook to $12.1 billion for the year in December, suggesting a 35% increase over the prior year. It was earlier anticipating a 25% jump in AI revenue this fiscal year.

It won't be surprising to see Jabil further boost its AI outlook when it releases its results, driven by potentially new business from hyperscalers. Additionally, Jabil retrofitted its existing facilities to meet demand for liquid-cooled server racks. The company notes its retrofitting efforts are ahead of schedule, which means it can fulfill more orders and clock stronger growth.

Better-than-expected results could supercharge the stock

Jabil management guided for $7.5 billion to $8 billion in fiscal Q2 revenue, along with $2.27 to $2.67 per share in earnings. Those numbers point to a potential year-over-year increase of 16% in revenue and a 27% spike in earnings (based on the midpoint of its guidance).

The company exceeded Wall Street's earnings expectations in each of the last four quarters, a trend that could continue due to the catalysts discussed above. Moreover, the guidance could turn out to be better than expected if Jabil succeeds in getting more AI business. So, it may be a good idea to buy this AI stock right now as its forward earnings multiple of 22 is quite attractive compared to the tech-focused Nasdaq-100 index's forward earnings multiple of 24.5.

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.