Jim Cramer on Micron: "I Think You Wait and See at This Point"

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks Jim Cramer recently shared his thoughts on. A caller asked Cramer whether the stock remains a buy ahead of its upcoming earnings, given its upgraded guidance in August and recent strong performance driven by improved revenue and margin expectations. He replied:

“Okay, here’s the problem, Sanjay Mehrotra is the CEO is fabulous. He’s fabulous. That’s one of the reasons why the stock went up so much. But he is also prudent and he’s conservative. He may not say the words that Wall Street wants after this big run. I think you wait and see at this point. And remember again, I have said to you that I like Sanjay Mehrotra, but a stock up 80% year to date, I think that he will be prudent.”

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage solutions, including DRAM and flash products under the Micron and Crucial brands. The company’s technologies serve data centers, mobile devices, PCs, automotive, industrial, and consumer markets.

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