We recently published 10 Stocks Jim Cramer Talked About. Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer discussed recently.
Cramer discussed memory semiconductor firm Micron Technology, Inc. (NASDAQ:MU) after the firm’s fiscal first quarter earnings report on Wednesday. The solid set of results saw the firm report $13.64 billion in revenue and $4.78 in adjusted earnings per share. Both of these beat analyst estimates of 12.84 billion and $3.95. Cramer was quite hyped about Micron Technology, Inc. (NASDAQ:MU) ahead of its earnings. He tweeted before the release and wondered whether the firm could “re-ignite the year of Magical Investing?” or if it was a short squeeze instead. After the earnings, the CNBC TV host called the results refreshing and commented that “companies are actually paying Micron instead of Micron paying them to take their chips.”
Micron Technology, Inc. (NASDAQ:MU)’s results also saw Rosenblatt increase the firm’s share price target to $500 from $300 and keep a Buy rating on the shares. As part of its coverage, the financial firm cited that memory price strength and lower costs drove the performance. Discussing Micron Technology, Inc. (NASDAQ:MU) after the earnings, Cramer discussed coverage by Bank of America, JPMorgan, and Morgan Stanley, among others. BofA pointed out that the memory company had a strong balance sheet and would benefit from an extended supercycle. Cramer also mentioned a memory supercycle discussed by Wells Fargo:
“There are gating factors, and one of the gating factors is Micron. Because they are able to, Sanjay’s got, you know he’s got the latest, but it’s really just what he’s saying. But it’s really amazing, which is remember, AI demand acceleration, execution helped drive record quarter. In the quarter, he says, look we are able only to meet 50% to two-thirds of demand from customers. Their price is going up.
While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
