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Jim Cramer Calls Micron a “Favorite of the Show”

Micron Technology, Inc. (NASDAQ:MU) is one of the S&P 500 and Nasdaq-100 stocks Jim Cramer commented on. Cramer highlighted the company’s significant runs over the past years during the episode, as he said:

“In second place, there’s Western Digital, Sandisk’s former parent, up 282%. In third, it’s Micron, a favorite of the show, up 239%. In fourth, it’s Seagate, another disk drive company, up 219%. These are all called storage companies. Each of these companies is a play on the data center’s insatiable demand for memory chips and hard drives, which are essential if you’re trying to develop complex AI models. So, can these memory stocks keep running?

On the one hand, historically, this is a boom and then bust industry, okay, when memory chips are hot. Eventually, companies buy more semiconductor capital equipment in order to make more memory chips and flood the market with new supply, and that’s the end. On the other hand, this time might be different. The voracious demand from data centers is immense, and while new supply might come on at some point, these companies have been pretty darn cautious about expanding their capacity so far.

Plus, when you look at Micron’s annual gains for the past 30 years, there were plenty of times when the stock managed to rally hard for multiple years in a row. The last time the stock rallied more than 200% in a single year was 2013, and in 2014, Micron rallied more than 60%. So, it wouldn’t shock me if these memory stocks keep running, but if you own them, please, I’m begging you, why don’t you schnitzel? That means take a little bit off the table so that you’re playing maybe with the house’s money.”

Photo by Artem Podrez on Pexels

Micron Technology, Inc. (NASDAQ:MU) develops memory and storage solutions, including DRAM, NAND, and SSD products, under the Micron and Crucial brands.

While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 175 Teslas
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  • 140 Metas
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  • 65 Microsofts
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