Micron Technology, Inc. (MU): It Could Play A Key Role In China Negotiations, Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other stocks that Jim Cramer discusses.
Micron Technology, Inc. (NASDAQ:MU) is one of the largest computer memory chip manufacturers in the world. It is also the only American firm that manufactures the advanced chips. Consequently, Micron Technology, Inc. (NASDAQ:MU) plays a key role in the AI supply chain. Its shares soared by 25% in January after NVIDIA revealed that it was a supply chain partner for AI GPU chips. Year-to-date, Micron Technology, Inc. (NASDAQ:MU)'s stock has gained 32%. The stock has gained 22% in June alone after the firm benefited from NVIDIA taking a lesser-than-expected revenue hit from US chip sanctions against China. Cramer's comments about Micron Technology, Inc. (NASDAQ:MU) revolved around President Trump's trade negotiations:
'And the Chinese did have a kind of discouraging statement talking about how, look, you know we'll take it till we have to fight. When I say on the semiconductors, a lot of people feel it was in Advanced Micro, cause they have a GPU that you need, that's what NVIDIA have. Advanced Micro's up a quick ten. Micron is high bandwidth, that's also used for data centers. And that would be something we could give them. Sanjay Mehrotra's been very quiet about it, the CEO.
A close-up view of a computer motherboard with integrated semiconductor chips.
In late May, Cramer advised viewers to buy Micron Technology, Inc. (NASDAQ:MU) if the price touched $80. Here's what he said:
'I think it is getting a little toppy. I think the market's getting a little toppy and Micron's going to go with it. Now, it went down to 66. I think it could go down to 80 without a problem, and then you'll probably want to buy it again. But I sense that there is a trade here, not an investment, for the moment, and you need to do a little [kaching kaching].'
While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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