Jim Cramer on Micron: “I Think It’ll Prove to Be a More Meaningful Position as It Goes Down”

Micron Technology, Inc. (NASDAQ:MU) is featured in Mad Money’s latest recap as Jim Cramer shared his buy, sell, or hold verdict. A caller expressed interest in adding to their position in the stock following the company’s latest quarterly earnings report and asked whether it still has “room to grow.” Cramer commented:

Okay, so Micron is digesting that huge move. That’s what happens after you have just a gigantic increase in value to the company that is almost $500 billion. I think you have to let it churn. I would not attempt to buy some Micron here until it fell more than just $18. Let’s give it a rest. I think it’ll prove to be a more meaningful position as it goes down than it is right here. And I think it can do that because it’s had such a big run.

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. On March 11, Cramer discussed the stock in light of the memory shortage and said:

Second theme, the memory shortage. I keep thinking this has got to end, but we got confirmation this week from HP Enterprise that it’s going to go on for much longer than people think. However, I can’t recommend these memory stocks, even the ones I really like. They’re just too much, too high. Western Digital, Seagate, Sandisk, and Micron could all be bought on a big move down because of oil.

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