Jim Cramer on Micron: "I'm Going to Say We Have to Wait"

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer recently shed light on. A caller asked if Cramer would suggest buying the stock at its current level. He replied:

“Okay, the problem that’s happened, and it’s very technical here, but they make a particular chip called a DRAM, and the DRAM pricing has been going down. And that’s what this stock trades with… not with the semiconductors, but with actual DRAM pricing. Until DRAM pricing stabilizes a little bit more, I’m going to say we have to wait. I wish I could be more aggressive because I happen to think that Sanjay Mehrotra is a terrific CEO, but it’s a commodity, not unlike, in some degree, oil. Now it… [has] this high bandwidth division that is very good for data centers, but it’s not enough to be able to move the needle, and that’s why I am waiting on the sidelines, Micron.”

Micron Technology, Inc. (NASDAQ:MU) designs and sells memory and storage solutions, including DRAM and flash products, under the Micron and Crucial brands. The company’s technologies support applications across data centers, mobile devices, automotive systems, and consumer electronics.

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