Jim Cramer Says Micron Could Be “Bought on a Big Move Down Because of Oil”

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer looked at. Cramer discussed the stock in light of the memory shortage, as he commented:

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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Micron Technology, Inc. (NASDAQ:MU) develops memory and storage solutions, including DRAM, NAND, and SSD products, under the Micron and Crucial brands. Cramer mentioned the stock during the January 28 episode and stated:

We’ve got a big shortage in tech, one that’s truly unlike anything I’ve ever seen. It’s about storage and memory, specifically data storage. We just don’t have enough of it for the data centers that are being put up all over this country and the world. We’ve heard this theme now from Micron and from Seagate last night. The former is a maker of sophisticated memory chips, and the latter’s known for more reasonably priced commodity disk drives. These stocks are just, you can’t even… boom. Micron’s doing everything it can to alleviate the shortage. Sanjay Mehrotra, the effervescent CEO, seems to be breaking ground everywhere. Must be carrying shovels to put up new foundries. But you can’t put these up overnight. They take years. They’re just way too complicated. In this situation, where you have NVIDIA’s new high-end chip spewing data, Micron has absurd pricing power.

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