Jim Cramer Says Micron Needs a Massive Beat and Raise to Keep Soaring

Micron Technology, Inc. (NASDAQ:MU) was among the stocks Jim Cramer discussed as he said that the Iran peace negotiations could trigger an oil glut, cool inflation, and pull interest rates down. Cramer noted what the company needs for its stock to go higher, as he commented:

Alright, after the close, we get the most consequential quarter of the week, and it’s Micron. Now, this stock’s up about 300% for the year. So I think Micron needs to beat and then raise well beyond the consensus to continue to go higher. If it does, though, this memory chip maker, it can soar because of the shortages. Anything less than a blowout, though, it’s going to be a problem. Luckily, Micron chips are in such short supply that they have insane pricing power. That’s great for the stock, but it’s terrible for the consumer, as these higher memory costs are now being passed on by the likes of Apple and most of the entertainment devices that you may be buying.

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.

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