Jim Cramer Talked About These 17 Stocks After The Fed’s Rate Cut

2. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Holders In Q3 2024: 107

Micron Technology Inc. (NASDAQ:MU) is one of three major memory manufacturers in the world. It is also the only large-scale American memory maker, a fact that has grown its importance to US national security in today’s semiconductor industry. However, while Micron Technology Inc. (NASDAQ:MU) benefits from its industry stature, manufacturing prowess, and exposure to AI via HBM3e memory products, its reliance on the consumer market has hurt the stock. Micron Technology Inc. (NASDAQ:MU)’s shares dipped by 16% in December after its fiscal second-quarter revenue guidance missed analyst estimates by a whopping $1 billion. Cramer’s remarks for Micron Technology Inc. (NASDAQ:MU) surrounded its CEO:

“I felt very bad for Sanjay. That Sanjay predicted a turn in all businesses. The high bandwidth memory was spectacular. And now a much bigger part of their mosaic. And I think that’s terrific, that’s data center. But David, PCs we’ve been saying PCs are weak, cellphones are weak, and Sanjay got it wrong. And for that, his stock is being punished. And the people who bought are being punished. What I feel badly about is that high bandwidth memory. I’ve talked with him about high bandwidth memory, he always said if it ever got to these levels the company would be doing so well. It is. But they have these other businesses and they didn’t turn. And we didn’t really get a timeframe of when they will. So it was very disappointing because that’s what the analysts want to talk about.

“He forecast so badly. He did not do what I wanted him to do. He just had to say I can’t predict PC and I can’t predict cellphone. But the, the reverberations are all over the place. I mean even for Arm Holdings which is in this battle with Qualcomm. But I just felt, I felt bad for Sanjay because I remember this time last year, he kind of lectured me, so nice, he called, it was like four in the morning, he knew that I get up early. And it was you know Jim you’re too bullish about high-bandwidth memory. Well I wasn’t. High-bandwidth memory turned out to be great. But what I wasn’t bearish enough was on cellphones and PCs.”