A Game Changer: Jim Cramer’s Latest Top 10 Stock Picks

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1. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Investors: 120

Jim Cramer reports that Stifel has lowered its price target for Micron Technology Inc. (NASDAQ:MU) from $165 to $135 per share while keeping a buy rating. Similarly, TD Cowen also maintained a buy rating but cut its target to $115. Despite these reductions, both targets are significantly higher than Micron Technology Inc. (NASDAQ:MU)’s closing price of just over $87 on Wednesday. The analysts anticipate that next week’s earnings report may be disappointing.

“Stifel cut its Micron price target to $135 per share from $165 but kept its buy rating. TD Cowen, which also maintained a buy, cut its PT even lower to $115. Those levels are still much higher than the stock’s Wednesday close price of just over $87. The analysts expect next week’s earnings to be underwhelming.”

Micron Technology, Inc. (NASDAQ:MU) is well-positioned for substantial growth, fueled by rising demand for memory products in fields like artificial intelligence, 5G, and cloud computing. In Micron Technology, Inc. (NASDAQ:MU) recent Q3 2024 earnings report, the company announced a 15% increase in revenue to $5.2 billion, surpassing expectations and highlighting improved gross margins, which reflects effective management amid supply chain challenges.

Micron Technology, Inc. (NASDAQ:MU)’s advancements in DDR5 and 3D NAND technologies give it a competitive edge and the potential to capture additional market share. Furthermore, Micron Technology, Inc. (NASDAQ:MU) appealing valuation compared to competitors suggests the possibility of value appreciation as market conditions improve.

While we acknowledge the potential of Micron Technology, Inc. (NASDAQ:MU), our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than the ones on our list but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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