Ramish Cheema
2 min read
In This Article:
Micron Technology, Inc. (NASDAQ:MU) is one of the Jim Cramer Warns Viewers About FOMO & Discusses These 19 Stocks.
Micron Technology, Inc. (NASDAQ:MU) is the only American company that makes and sells leading-edge memory chips. This provides the firm with a wide moat at least when it comes to domestic exposure particularly due to President Trump’s efforts to expand US manufacturing. Micron Technology, Inc. (NASDAQ:MU) is also NVIDIA’s only American supplier of high-end memory chips to NVIDIA for the latter’s high-end AI GPUs. The firm’s shares have gained 42% year-to-date, with a fresh catalyst being its fiscal third-quarter earnings report which saw Micron Technology, Inc. (NASDAQ:MU)’s $9.3 billion in revenue and $1.91 in earnings beat analyst estimates of $8.87 billion and $1.60. The firm’s $10.7 billion in guidance also beat estimates of $9.88 billion. Cramer discussed the stock’s recent performance ahead of interviewing its CEO:
“You know David, about a year and half ago, I tried to get Sanjay Mehrotra to say incredibly bullish things. He pulled me back. He said, Jim it’s not there yet. I’ll tell you when it’s there. Well, you know what, it’s there now. Micron shares, moving higher after beating the top and bottom line. Shares now up more than 55% year-to-date. It’s the old Micron!”
A close-up view of a computer motherboard with integrated semiconductor chips.
Earlier, Cramer discussed Micron Technology, Inc. (NASDAQ:MU)’s share price performance:
“I think it is getting a little toppy. I think the market’s getting a little toppy and Micron’s going to go with it. Now, it went down to 66. I think it could go down to 80 without a problem, and then you’ll probably want to buy it again. But I sense that there is a trade here, not an investment, for the moment, and you need to do a little [kaching kaching].”
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.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
