Jim Cramer on Micron: “I Like the Stock at $120”

Micron Technology, Inc. (NASDAQ:MU) is one of the 21 stocks on Jim Cramer’s radar. A caller asked why MU stock declined after the company reported its quarterly earnings recently, and Cramer replied:

“Alright, well, this is not unusual for Micron. I’ve seen this happen many times at Micron. This stock went literally from $60 to $126, and they did a fantastic quarter. But there’s no way that a stock that goes from $60 to $126 can go higher, no matter how good it is. This is a momentary pullback, and then you’re going to have to start buying the stock all over again. I like the stock at $120.”

A close-up view of a computer motherboard with integrated semiconductor chips.

Micron Technology, Inc. (NASDAQ:MU) produces and sells memory and storage products used in devices like computers, smartphones, and cars. The company provides data solutions under multiple brands and different sales channels worldwide. In April, Cramer showed bearish sentiment toward the company, as he commented:

“Alright, Micron’s just okay. The last couple quarters, not great. I think you’d be doing it at the low end, there’s no doubt about that. But my problem is, I don’t know a catalyst to get it to go higher.”

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