Jim Cramer on Micron Technology (MU): "There is a Trade Here, Not an Investment"

We recently published a list of Jim Cramer Discussed These 9 Stocks Recently. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other stocks that Jim Cramer discussed recently

A caller mentioned that Micron Technology, Inc. (NASDAQ:MU) is getting “a bit toppy” and asked what Cramer thinks of sticking with the company. This is what Cramer said in response:

“I think it is getting a little toppy. I think the market’s getting a little toppy and Micron’s going to go with it. Now, it went down to 66. I think it could go down to 80 without a problem, and then you’ll probably want to buy it again. But I sense that there is a trade here, not an investment, for the moment, and you need to do a little [kaching kaching].”

Micron Technology (NASDAQ:MU) manufactures and sells memory and storage products, including low-latency DRAM, non-volatile storage, and fast-read memory devices. They are offered under the Micron and Crucial brands and through private labeling. On April 28, Cramer made similar comments as he said:

“Alright, Micron’s just okay. The last couple quarters, not great. I think you’d be doing it at the low end, there’s no doubt about that. But my problem is, I don’t know a catalyst to get it to go higher.”

Overall, MU ranks 3rd on our list of stocks that Jim Cramer discussed recently. While we acknowledge the potential of MU as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MU and that has 100x upside potential, check out our report about this cheapest AI stock.

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