10 Stocks That Have Jim Cramer’s Attention

2. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Investors: 120

Jim Cramer recently addressed a viewer’s question about Micron Technology Inc. (NASDAQ:MU). He noted that Micron Technology Inc. (NASDAQ:MU)’s stock had fallen sharply but stabilized around $92 after the company announced a buyback program. Although Micron Technology Inc. (NASDAQ:MU) has recently declined again, Cramer suggested it might drop to around $98 or $99. He recommended considering buying more shares if the stock reaches that level.

“So, Micron Technology (MU) saw a steep decline, but after the company announced its buyback program, the stock stabilized around $92 before rebounding. It has recently come back down, and I think it could drop to around $98 or $99. At that point, I would consider buying more.”

Micron Technology Inc. (NASDAQ:MU)’s Q2 2024 earnings report shows strong financial health and efficiency. Micron Technology Inc. (NASDAQ:MU) saw a 12% increase in revenue and a notable rise in net income, reflecting its success in meeting the growing demand for memory and storage solutions. Micron Technology Inc. (NASDAQ:MU)’s $10 billion investment in U.S. production facilities highlights its commitment to boosting capacity and advancing technology, which should improve its market position and profitability.

Recent advancements in DRAM and NAND technologies position Micron Technology Inc. (NASDAQ:MU) well to address the increasing needs of sectors like AI and 5G, which are expected to drive significant growth. The positive outlook for the semiconductor industry further supports a favorable trajectory for Micron Technology Inc. (NASDAQ:MU)’s stock.