Jim Cramer’s Comments on 25 Stocks Like Micron, Dell, and Playing the Recent Market Rotation

23. Micron Technology, Inc. (NASDAQ:MU)

Micron Technology, Inc. (NASDAQ:MU) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday’s market rotation. Cramer highlighted the company as a “secular growth story.” He stated:

What should I have recommended? Well, how about 10 stocks that were easily in my grasp that I owe to you to tell you why I got them wrong. Why I didn’t say buy these stocks that turned out to be huge winners, because I knew them well, and I should have done so. First is Micron with the CEO, Sanjay Mehrotra, who was on the show last night. Oh, I could have caught Micron for you, as I believe in the data center-induced memory shortage, but I was caught up in the history of this group. I was concerned that Micron could have one of those cyclical downturns like it always seemed to have whenever the memory and storage makers ramp up the production.

That was textbook wrong. Micron’s become a secular growth story, not a cyclical story. The chip shortage is so severe because of the data center memory demand. This company’s been able to lock in excellent pricing for multiple years to come. It had never happened before.

So Micron was gettable, and the same goes for Seagate, Sandisk, Western Digital, which are all in the same business. But let’s do some serious, if not extreme, multi-year self-flagellation. As a hedge fund manager, I once owned 4.9% of Western Digital, and then it blew up in my face because, again, until very recently, this was a textbook boom and bust business. I knew the perils of owning it, and I let that history color my judgment, colored incorrectly.

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