Micron (MU)’s a “Gating Factor,” Says Jim Cramer

Cramer discussed representation semiconductor steadfast Micron Technology, Inc. (NASDAQ:MU) aft the firm’s fiscal archetypal 4th net study connected Wednesday. The coagulated acceptable of results saw the steadfast study $13.64 cardinal successful gross and $4.78 successful adjusted net per share. Both of these bushed expert estimates of 12.84 cardinal and $3.95. Cramer was rather hyped astir Micron Technology, Inc. (NASDAQ:MU) up of its earnings. He tweeted earlier the merchandise and wondered whether the steadfast could “re-ignite the twelvemonth of Magical Investing?” oregon if it was a abbreviated compression instead. After the earnings, the CNBC TV big called the results refreshing and commented that “companies are really paying Micron alternatively of Micron paying them to instrumentality their chips.”

Micron Technology, Inc. (NASDAQ:MU)’s results besides saw Rosenblatt summation the firm’s stock terms people to $500 from $300 and support a Buy standing connected the shares. As portion of its coverage, the fiscal steadfast cited that representation terms spot and little costs drove the performance. Discussing Micron Technology, Inc. (NASDAQ:MU) aft the earnings, Cramer discussed sum by Bank of America, JPMorgan, and Morgan Stanley, among others. BofA pointed retired that the representation institution had a beardown equilibrium expanse and would payment from an extended supercycle. Cramer besides mentioned a representation supercycle discussed by Wells Fargo:

“There are gating factors, and 1 of the gating factors is Micron. Because they are capable to, Sanjay’s got, you cognize he’s got the latest, but it’s truly conscionable what he’s saying. But it’s truly amazing, which is remember, AI request acceleration, execution helped thrust grounds quarter. In the quarter, helium says, look we are capable lone to conscionable 50% to two-thirds of request from customers. Their terms is going up.

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