Jim Cramer Comments On Micron Technology (MU)'s Shares & Says Be Careful

We recently published 13 Latest Stocks on Jim Cramer’s Radar. Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer recently discussed.

Micron Technology, Inc. (NASDAQ:MU)’s shares have gained 14.5% this week and closed 7.5% higher today. Media reports suggest that the stock has gained due to bullish coverage from investment bank Citi. In its analyst note, Citi raised Micron Technology, Inc. (NASDAQ:MU)’s share price target to $175 from $150 and kept a Buy rating on the shares. The bank’s analyst linked the upgrade to the bump in inference AI workloads to tailwinds for Micron Technology, Inc. (NASDAQ:MU). Cramer discussed the move:

“I’m gonna say that these funds, they smell it. They want to be in it. Micron just went up [inaudible] sixty points. Because people think that DRAM prices are getting better. I just want to warn people, that this is, what you’re seeing coming up has historically had a beginning and an end. We’re not at the beginning yet, but when it has that end, I don’t want people to like. . .

“Like if you go buy Micron right now, up 15, you know, you’re not going to make a lot of money. You gotta be careful, you can’t get too enthusiastic about a stock if you want to trade it, uh,  own it, and then as it goes lower [inaudible].

“[On why the shares were soaring] Micron did get a big upgrade, but I also think that there’s, and Citi, and Citi’s really good. 150 to 175. But the commodity chips and also the high bandwidth, very good. High bandwidth is something [inaudible]. You know, it’s data center.”

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