Jim Cramer’s Bold Predictions About These 9 Semiconductor Stocks

5. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders In Q3 2024: 107

Date of Cramer’s Comments: 09-09-24

Performance Since Then: 2.74%

Micron Technology, Inc. (NASDAQ:MU) is the only American pure-play memory chip manufacturer. The firm depends quite a bit on a robust consumer chip demand for its sales. Therefore, while Micron Technology, Inc. (NASDAQ:MU) is also a leading manufacturer of advanced HBM3e memory chips used in AI GPUs, the firm has nevertheless struggled due to sluggishness in the broader memory industry. Its shares sank by 16% in December after Micron Technology, Inc. (NASDAQ:MU)’s fiscal second quarter guidance of $7.9 billion missed analyst estimates of $8.98 billion by a whopping $1 billion. This wiped out all gains in September when the stock soared by 14.7% after Micron Technology, Inc. (NASDAQ:MU)’s fiscal Q1 guidance of $8.7 billion beat analyst estimates of $8.28 billion. Here’s what Cramer shared in September:

“Micron Technology Inc. (NASDAQ:MU) is now in its 2025 fiscal year, where it’s expected to earn $9.59, with that number growing to nearly $13 the following year. In other words, Micron Technology Inc. (NASDAQ:MU) is trading at less than 7 times next year’s fiscal earnings estimates. That’s insanely cheap—but remember, that often means people don’t believe in the estimates. That’s how it gets to seven times. I understand that, but I think the estimates are okay.”