Jim Cramer Calls Market Decline ‘Man-Made’ and Breaks Down 15 Stocks

4. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 94

A caller asked about Micron Technology Inc. (NASDAQ:MU) amid recent weakness in chip stocks. Cramer highlighted the company’s strength in high-bandwidth memory and said it looked undervalued, even if estimates were cut.

“They have this high bandwidth business that is just on fire… The stock has come down to the point where it is selling at like a steel company—actually below a steel company… Even if they cut estimates big, I don’t think there’s a lot of downside and there will be upside… I’m a buyer of Micron here.”

Jim Cramer has been a fan of the memory chip producer for a long time. Here’s what he said about Micron Technology Inc. (NASDAQ:MU) on the 24^th of March:

“Micron, okay, it’s up nine in the evening, it’s down nine in the morning. What happened during that period? I don’t know, people watched March Madness?. . . Nothing happened. Tech, and I’m saying that could reverse. Micron is an inexpensive stock doing well. I’m using Micron please as a metaphor, don’t try to pin me down. . .”