Micron (MU) CEO Saw What Was Coming, Says Jim Cramer

We recently published Jim Cramer Discussed These 12 Stocks & Wondered Whether He Should Melt Silver.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks that Jim Cramer discussed.

Micron Technology, Inc. (NASDAQ:MU) is one of the strongest-performing stocks on Wall Street. The shares are up by an unbelievable 305% over the past year and by 20% year-to-date. Micron Technology, Inc. (NASDAQ:MU) is among the few companies in the world that are capable of manufacturing high-end memory chips that are used in AI GPUs. Cramer regularly discusses the firm and is one of its biggest proponents. Bernstein upgraded the share price target to $330 from $270 and kept an Outperform rating on the shares in January. TD Cowen raised the share price target to $450 from $300 and kept a Buy rating on the stock. The financial firm outlined that Micron Technology, Inc. (NASDAQ:MU) could benefit from the persistent shortages in the memory market, as it added that the potential for long-term agreements in the industry remained high. In his previous comments about the memory company, Cramer has praised Micron Technology, Inc. (NASDAQ:MU) for capitalizing on the shortages. In this appearance, he remarked how the firm’s CEO was not taken seriously before the shortages became apparent:

“Sanjay Mehrotra, did see what was coming, he built and built and built, and people laughed. They all laughed. . .and it turned out that he was the real deal.”

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.