Jim Cramer Latest Stocks: 23 Stocks He Just Talked About

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5. Micron Technology Inc. (NASDAQ:MU)

Number of Hedge Fund Holders In Q3 2024: 107

Micron Technology Inc. (NASDAQ:MU) is a semiconductor manufacturing firm that caters to the needs of the memory industry. Along with Korean firms Samsung and SK hynix, it is a major memory manufacturer. Micron Technology Inc. (NASDAQ:MU)’s industry position offers it a wide moat owing to the high capital expenditure and technical expertise required for semiconductor fabrication. Its narrative in 2024 has been driven by exposure to the AI industry, particularly through its HBM3e memory products. However, Micron Technology Inc. (NASDAQ:MU)’s stock sank by a whopping 16% in December after its fiscal first-quarter earnings. The firm’s Q2 guidance of $7.9 billion missed analyst estimates of $8.9 billion by a billion dollars. The day before Micron Technology Inc. (NASDAQ:MU)’s ill-fate earnings, Cramer, in a crystal ball moment, shared:

“. . . .and you have Micron which goes up everyday which is setting up for failure unfortunately I don’t like that’s reporting tonight.”

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