Jim Cramer Believes “Micron Right Now is on a High-Level Run Rate”

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer mentioned in his latest comments. During the episode, a caller asked Cramer where he thinks the business is going in the future. In response, he said:

“You know, they do have this one business called the high bandwidth memory, and that is data center, and it is on fire. Sanjay Mehrotra said that could happen. There’s no, I’m not saying there’s no stopping Micron. I am saying that Micron right now is on a high-level run rate that is going to produce earnings for at least the next year that are going to surprise people. So I think you’ve got a good one.”

Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels

Micron Technology, Inc. (NASDAQ:MU) develops memory and storage solutions, including DRAM, NAND, and SSD products, under the Micron and Crucial brands. The company’s technologies are used in data center, mobile, automotive, industrial, and consumer markets. Cramer mentioned the stock during the October 24 episode and remarked:

“I’m going to add Micron, MU, to the list of companies whose products are in short supply. That allows these stocks to go higher for far longer than most investors expect. Sometimes it can go for years… A fine company like Micron, which I typically interview every three months, told me to lower my expectations of the coming, oh, the coming demand just a few quarters ago. I listened, but how could I know better than they did? Right? But it turns out I was right. Micron was being too conservative. It’s pretty shocking.”

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Disclosure: None. This article is originally published at Insider Monkey.