Micron (MU)'s Quarter Was a Thing of Beauty, Says Jim Cramer

We recently published 9 Stocks Jim Cramer Talked About.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks on Jim Cramer talked about.

Micron Technology, Inc. (NASDAQ:MU) is one of the most important firms in the AI ecosystem. It makes and sells memory chips that are used in NVIDIA’s and other AI GPUs. As a result, Micron Technology, Inc. (NASDAQ:MU)’s products form a link at the back end of the AI supply chain. The firm recently reported its fiscal first quarter earnings report and posted $13.64 billion in revenue and $4.78 in earnings per share. The figures beat analyst estimates of $12.84 billion and $3.95. Micron Technology, Inc. (NASDAQ:MU)’s shares are up by a whopping 227% year-to-date, and since the earnings report, they have added 26.90%. The earnings report was followed by optimism from several analysts. For instance, Morgan Stanley bumped the share price target to a hefty $350 from $338 on December 18th and maintained an Overweight rating on the stock and called it a top AI stock pick. Cramer was excited after Micron Technology, Inc. (NASDAQ:MU)’s earnings as well, as he remarked that the firm “has a high bandwidth memory component, that is perfect for the data center.” In this appearance, he wondered what NVIDIA’s CEO. Jensen Huang thinks about the latest earnings:

‘That Micron quarter, I really want to know what Jensen felt about that Micron quarter. I know he’s not in town right now. But holy cow, that Micron quarter was such a thing of beauty. And Mehrotra was so self effacing. I got to tell you, it was a beautiful call.”

While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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