Don’t Miss Out: Jim Cramer’s 10 Key Stocks to Watch

3. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Investor: 120

Jim Cramer noted that Citi has lowered its price target for Micron Technology Inc. (NASDAQ:MU) from $175 to $150 per share while keeping its buy rating. Analysts expect Micron Technology Inc. (NASDAQ:MU)’s upcoming quarterly earnings to fall below expectations due to weakness in DRAM, a type of semiconductor memory.

“Citi cut its Micron price target to $150 per share from $175 but kept its buy rating. The analysts expect below consensus numbers when Micron reports quarterly earnings next week. They cite weakness in DRAM, dynamic random access memory, which is a type of semiconductor memory.”

Micron Technology, Inc. (NASDAQ:MU) is set for strong growth, fueled by rising demand for memory products in sectors like artificial intelligence, 5G, and cloud computing. In its recent Q3 2024 earnings report,Micron Technology, Inc. (NASDAQ:MU) reported a 15% increase in revenue to $5.2 billion, surpassing expectations and showing improved gross margins, which highlights its effective management despite supply chain issues.

Micron Technology, Inc. (NASDAQ:MU)’s advancements in DDR5 and 3D NAND technologies give it a competitive edge and the potential to capture more market share. Furthermore, its attractive valuation compared to peers suggests it could rise in value as market conditions improve. With strategic partnerships and support from the U.S. government for semiconductor manufacturing, Micron Technology, Inc. (NASDAQ:MU) is well-positioned to seize future opportunities, making it an appealing investment choice.