Micron (MU) is Facing a Shortage That Can’t Be Met, Says Jim Cramer

We recently published 13 Stocks Jim Cramer Commented On.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer commanded on.

Over the past couple of months, Cramer has been nothing but praiseful of memory chip manufacturer Micron Technology, Inc. (NASDAQ:MU). The shares are among the top performers in the market as they are up by 331% over the past year and by 24.6% year-to-date. Micron Technology, Inc. (NASDAQ:MU) has benefited from the strong demand for memory chips. HSBC was out with a very optimistic take about the firm recently, as it bumped the share price target to $500 from $350 and kept a Buy rating on the stock. The bank commented that Micron Technology, Inc. (NASDAQ:MU)’s shares had benefited from the rally in DRAM prices and forecast that the firm could post high double-digit growth in its second quarter operating profit. In his recent remarks about Micron Technology, Inc. (NASDAQ:MU), Cramer has praised the firm’s CEO and remarked that the CEO is too modest. In this appearance, he listed Micron Technology, Inc. (NASDAQ:MU) among a handful of stocks that were experiencing a shortage:

“Okay, so, here’s the ones that have a shortage that can’t be met. Micron . . . Those stocks are up 36% [MU’s gains]. . .this is from the year began.”

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Disclosure: None. This article is originally published at Insider Monkey.