Jim Cramer on Micron: “It Is One of My Absolute Favorite Stocks”

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer talked about recently. Cramer noted that storage stocks like Micron have an “immense amount of demand.” He commented:

“Honestly, it does seem pretty hopeless for the data center stocks. Consider, four out of the five top-performing in the S&P 500 this year are tech… Sandisk, Western Digital, Seagate, Micron. Why these? Because they’re plain old-fashioned data storage companies with an immense amount of demand and not nearly enough supply. And the storage companies are inherently boom and then bust, always have been, always will. Right now, there’s not enough capital equipment to relieve the tightness in the market, so these companies can put through endless price increases. But the moment there are enough machines to manufacture these products, their stocks will indeed plummet as they always do. Micron reports after the close tomorrow night. And while it is one of my absolute favorite stocks, and I think it’ll have an amazing quarter, there will be analysts who try to call a top.”

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

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

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.