Micron Technology, Inc. (NASDAQ:mu) is one of them Stocks Jim Cramer Follows. Cramer discussed the stock in light of the memory shortage, commenting:
Second topic, insufficient memory. I’ve always thought this had to end, but this week we got confirmation from Hewlett Packard Enterprise that this is going to last a lot longer than people thought. However, I can’t recommend these memory stocks, even the ones I really like. There were too many of them, too high. Western Digital, Seagate, SanDisk, and Micron are all likely buys as oil prices fall sharply.
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Micron Technology, Inc. (Nasdaq: MU) develops memory and storage solutions, including DRAM, NAND and SSD products, under the Micron and Crucial brands. Cramer mentioned the stock on the Jan. 28 show and said:
We have a huge skills shortage like I’ve never seen. This is about storage and memory, specifically data storage. We just don’t have enough resources for the data centers being built in this country and around the world. We heard this theme last night from Micron and Seagate. The former is an advanced memory chip maker and the latter is known for its more affordable commodity disk drives. These stocks are just, you can’t even… boom. Micron is doing everything it can to alleviate the shortage. Sanjay Mehrotra, the ebullient CEO, seems to be breaking ground everywhere. A shovel must be carried to build a new foundry. But you can’t put these in place overnight. They take years. They are too complex. In this case, Micron has ridiculous pricing power when you have Nvidia’s new high-end chips spewing data.
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