Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer talked about, along with the memory shortage. Cramer highlighted his interview with the company’s CEO, as he said:
We got another big clue the very next day when I got a chance to interview Sanjay Mehrotra, the CEO of Micron, what a stock, what a company, on Squawk on the Street. That’s when Micron broke ground on a hundred billion dollar semiconductor foundry in our state, New York. While that facility won’t be up and running until 2030, you better believe it needs equipment. On top of that, Micron’s working on a new fab in Boise, Idaho, which will begin adding output by the second half of 2027. Micron also broke ground on a new fab in Singapore yesterday. That should start producing in the second half of 2028. Dizzying, right?
Photo by Yiorgos Ntrahas on Unsplash
Micron Technology, Inc. (NASDAQ:MU) develops memory and storage solutions, including DRAM, NAND, and SSD products, under the Micron and Crucial brands. Cramer highlighted the stock’s gains for the current year during the January 22 episode, as he remarked:
This is something I haven’t talked about to you. It’s a huge part of the story. There’s a new group of tech stocks in town, and they are sucking up money from the rest of the sector, from the Seven, and these are prosaic, boring companies. They’re storage plays. I have been talking about the storage plays as a warning sign because they’ve rallied so far, so fast. But there are tons of investors who love to chase hot stocks, and if they want to buy a Sandisk or a Seagate or a Western Digital or a Micron, wow, the best plays in storage, they gotta sell something… Consider Micron, a very good semiconductor company. You know, we talk about them all the time, makes storage components. Stock’s up 39% since the beginning of January… What you’re seeing right now is the great transference. For the first time since the creation of Magnificent Seven back in March of 2023, these stocks have become donors to the market capitalization of these storage companies… Even up here, Micron’s not expensive on a price-to-earnings basis, but we don’t know how long the memory shortage will last. I think it could last some time. So it could be worth buying even up here, you know, if it’s down for a day.
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Disclosure: None. This article is originally published at Insider Monkey.
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