We recently published 11 Stocks on Jim Cramer’s Radar.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks on Jim Cramer radar. Micron Technology, Inc. (NASDAQ:MU) is one of the top-performing semiconductor stocks on the market. Over the year, the shares have gained 236%. It is the only American company capable of manufacturing high-end memory chips that are used in NVIDIA’s AI GPUs. Analysts started 2026 on a high note for Micron Technology, Inc. (NASDAQ:MU)’s shares with Bernstein raising the shar ...

Company Overview - Micron Technology designs and produces memory hardware essential for various computer systems, including data center servers [3] - The company specializes in dynamic random access memory (DRAM), random access memory (RAM), and high bandwidth memory (HBM) products, which are critical for AI applications [6] Market Demand and Performance - Current demand for RAM chips exceeds supply by 10%, with DRAM prices having increased by 50% over the last quarter and expected to rise by another 40% in the current quarter [5] - In fiscal Q1 2026, Micron's revenue grew by 56% year over year to $13.6 billion, while net income surged 178% to $5.2 billion, and operating cash flow increased by 159.5% to $8.41 billion [7][8] - The company has achieved a net income margin of 28.2% over the past four quarters, with cash reserves of $9.7 billion available for operational expansion [8] Investment Opportunity - Micron Technology is viewed as a bargain in the AI infrastructure sector, trading at a low price-to-earnings (P/E) ratio compared to other AI hardware stocks, despite the overall high valuations in the AI market [2][7]

Industry Overview - The semiconductor industry's global sales experienced a 3.5% month-over-month increase and a remarkable 29.8% year-over-year growth in November 2025, marking the highest monthly sales in the industry's history [2] - Strong demand for chips in sectors such as artificial intelligence (AI), cloud computing, high-performance computing (HPC), quantum computing, and advanced consumer electronics is driving growth [3] Sales Projections - The World Semiconductor Trade Statistics (WSTS) projects a 26.3% increase in semiconductor sales for 2026, reaching $975.4 billion, revised from a previous estimate of $760.7 billion [7] - For 2025, semiconductor sales are expected to rise by 22.5% over 2024, reaching $772.2 billion [7] Equipment Sales - Global sales of semiconductor manufacturing equipment are anticipated to grow by 13.7% year-over-year to $133 billion in 2025, with projections of $145 billion for 2026 and $156 billion for 2027 [8] AI and Infrastructure Spending - Spending on AI infrastructure is expected to accelerate, with Wall Street analysts estimating capital spending for AI hyperscalers to reach $527 billion in 2026 [10] - IDC projects AI infrastructure spending to hit $758 billion by 2029, with accelerated servers expected to account for over 95% of this spending, indicating a 42% five-year CAGR [10] Company Highlights NVIDIA - NVIDIA holds a Zacks Rank 1 and a Growth Score of B, benefiting from strong demand for its Hopper and Blackwell platforms, with expected revenues of $0.5 trillion from these platforms by the end of 2026 [11] - The Zacks Consensus Estimate for NVIDIA's fiscal 2026 earnings has been revised upward by 4.5% to $4.66 per share, reflecting a 56% increase from fiscal 2025 [12] Micron Technology - Micron Technology also holds a Zacks Rank 1 and a Growth Score of A, with fiscal 2026 earnings consensus rising 93.3% to $31.36 per share [15] - The company is capitalizing on the AI boom, focusing on next-generation DRAM and 3D NAND to meet the demand for memory chips [16] Credo Technology - Credo Technology has a Zacks Rank 1 and a Growth Score of B, with fiscal 2026 earnings estimates increasing by 36.3% to $2.78 per share [19] - The company is benefiting from strong demand for high-speed, energy-efficient data center connectivity solutions, particularly in the active electrical cables segment [20] Amtech Systems - Amtech Systems holds a Zacks Rank 1 and a Growth Score of A, with fiscal 2026 earnings estimates jumping 186.7% to 43 cents per share [22] - The company is experiencing robust demand for advanced semiconductor packaging and has implemented cost reduction initiatives that have resulted in $13 million of annualized savings [24]

（原标题：美股三大指数集体高开 阿斯麦涨超3%） 人民财讯1月9日电，美股三大指数集体高开，道琼斯指数涨0.18%，标普500指数涨0.16%，纳斯达克综 合指数涨0.07%。芯片股普涨，阿斯麦涨超3%，博通、美光科技涨超1%。 ...

Key Takeaways MU reported a 69% year-over-year jump in DRAM revenues to $10.8B, led by AI-related demand.AI servers require far more memory, pushing DRAM content per server and average selling prices higher.Tight industry supply and expanding HBM customers are supporting MU's pricing power and outlook.Micron Technology, Inc.’s (MU) recent revenue surge has been driven largely by a sharp rise in DRAM demand tied to artificial intelligence (AI) workloads. In the first quarter of fiscal 2026, MU’s DRAM revenue ...

【TechWeb】1月9日消息，据外媒报道，美光科技2022 年10月份宣布投资最高1000亿美元，在纽约州建设的超 级晶圆厂，在经过多年的等待之后，即将动工建设。 美光科技当地时间周四在官网宣布，计划在纽约州奥农 达加县建设的超级晶圆厂，将在1月16日动工，包括美光 科技董事长、总裁兼CEO Sanjay Mehrotra在内的多位高 管和美国、纽约及当地的多位官员，将出席当天的动工 仪式。 从美光科技在官网公布的消息来看，他们即将动工建设 的超级晶圆厂，将是纽约州历史上规模最大的私营企业 投资，将成为先进存储芯片的制造基地，有助于满足AI 领域日益增长的需求，工厂在全部建成之后，将成为美 国最大的半导体工厂，将创造近5万个就业岗位，其中近9000个是美光的高薪岗位。 不过，从美光科技此前公布的消息来看，他们在这一工厂计划的1000亿美元投资，并不是几年，而是跨 越20多年，一期是计划到2029年投资200亿美元。 此外，美光科技这一工厂的建设，已经晚于他们的预期。在2022年10月份宣布将投资建厂时，他们是计 划在2023年开始准备工作，2024年开始建设。（海蓝） 【TechWeb】1月9日消息，据外媒 ...

作者：情报员 国家知识产权局信息显示，美光科技公司取得一项名为"单晶硅堆叠形成及接合到互补金属氧化物半导 体晶片"的专利，授权公告号CN114446773B，申请日期为2021年11月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 ...

The AI frenzy is creating a big problem for consumer electronics 本周齐聚拉斯维加斯参加消费电子展的全球电子产品制造商们，对于未来一年的前景难免喜忧参 半。他们对人工智能驱动的智能新设备的期待依然高涨。然而，人工智能对内存芯片的需求量巨 大，而内存芯片对于智能手机、个人电脑、游戏机和汽车等各种电子产品都至关重要，这给电子 产品制造商带来了供应短缺的困境。 戴尔公司首席运营官杰弗里·克拉克称，这种情况是他见过的"前所未有的供需失衡"。中国智能 手机制造商小米也警告称，产品交付将延迟，价格也将上涨。分析师预测，受此影响，个人电脑 价格可能上涨15%至20%。市场调研公司IDC估计，如果这种情况持续下去，今年全球智能手机 出货量可能下降5%，个人电脑销量则可能下降近两倍。 半导体行业是一个周期性行业，容易出现供过于求和供不应求的情况。然而，这次的周期可能有 所不同，因为人工智能的需求正在重塑存储芯片的生产、定价和分配方式。对消费者而言，其影 响可能会持续数年。 此次资源紧张的核心在于DRAM，即智能手机、笔记本电脑和服务器中使用的内存。英伟达等公 司生 ...

Summary of Micron Technology Conference Call Company Overview - **Company**: Micron Technology (MU) - **Industry**: Semiconductors & Semiconductor Capital Equipment / IT Hardware - **Current Price**: $339.55 (as of January 7, 2026) - **Price Target**: $350.00 (by December 2026) [2][5] Key Points and Arguments Demand and Supply Dynamics - **Improving Demand**: Management expressed a bullish outlook on the demand for DRAM and NAND, noting that customers are increasing their memory and storage requirements. This trend is evident in the GPU and XPU markets, with companies like NVIDIA (NVDA) reporting growth in their backlogs [2][3]. - **Supply Constraints**: Micron is currently limited in its ability to meet customer demand due to a lack of clean room space. However, improvements in production efficiency and yield are expected to drive at least 20% growth in bit shipments for both DRAM and NAND in CY26, although this does not fully meet the anticipated demand growth of over 30% year-over-year [2][3]. Pricing Outlook - **Pricing Strength**: The ongoing supply-demand tightness is expected to support strong pricing through at least CY26, with average DRAM pricing forecasted to increase by nearly 60% year-over-year in CY26 [2][3]. Emerging Demand Drivers - **Context Window Memory Management**: The introduction of new platforms, such as NVDA's Inference Context Window Storage, is anticipated to drive additional NAND demand as companies develop systems to manage growing context window sizes [3]. - **Physical AI and Robotics**: Management highlighted physical AI, particularly robotics, as a significant future demand driver for memory. For instance, advanced humanoid robots may require 64-128GB of DRAM and 1-2TB of NAND, indicating substantial incremental demand as these technologies scale [3]. Investment Thesis and Valuation - **Valuation Basis**: The price target of $350 is based on an estimated earnings power of $40 in CY26, applying a multiple of 8-12x, consistent with mid-late cycle P/E multiples for memory stocks [6]. - **Diversification Benefits**: Micron's increasing product and end-market diversification is expected to reduce revenue and earnings volatility, positioning the company favorably in various markets [7]. Risks to Rating and Price Target - **Market Competition**: Micron operates in highly competitive markets, making operational execution critical [7]. - **Demand Fluctuations**: A sudden decline in demand for PCs could negatively impact DRAM price recovery and memory content growth [7]. - **Supply-Demand Imbalances**: Any imbalance in DRAM and NAND supply and demand could lead to downward revisions in revenue and earnings estimates [7]. - **Macroeconomic Factors**: Economic downturns could result in lower demand for Micron's products, affecting revenue and profitability [7]. Additional Insights - **Technological Advancements**: New technologies and cost-cutting measures are expected to enhance gross margins and profitability in the upcoming quarters [7]. - **Long-Term Outlook**: The company is well-positioned to benefit from secular trends in data centers and cloud computing, which should help mitigate volatility in commodity DRAM [7]. This summary encapsulates the key insights from the conference call regarding Micron Technology's current market position, demand and supply dynamics, pricing outlook, investment thesis, and associated risks.

Core Insights - The S&P 500 index experienced a significant increase of 16.4% in 2025, marking the third consecutive year of an AI-driven bull market [1] - Eleven S&P 500 stocks doubled in value last year, with several of them also doubling in 2024, indicating a strong performance trend [1][2] Company Performance - Micron Technology is highlighted as a standout stock with exceptional growth potential, driven by its advancements in memory chip technology and AI applications [3] - In its fiscal first-quarter earnings report, Micron reported a remarkable 56% revenue growth to $13.64 billion, surpassing estimates, with operating margins increasing from 25% to 45% [4][6] - Micron's adjusted earnings per share rose significantly from $1.79 to $4.78, exceeding expectations [6] Future Outlook - Micron's second-quarter guidance projects revenue of approximately $18.7 billion, reflecting a 132% increase year-over-year, with adjusted earnings per share expected to reach $8.42 [6] - The company anticipates a faster-than-expected arrival of a $100 billion high-bandwidth memory total addressable market, indicating strong future demand [7] - Plans to construct a $100 billion megafab in New York will position Micron as a leader in advanced memory manufacturing, supported by government incentives from the CHIPS Act [8] Market Position - Analysts predict Micron will achieve $32 in adjusted earnings per share, suggesting the stock is undervalued at a price-to-earnings ratio of just 10 [10] - Micron's stock has already increased by 15% this year, reflecting ongoing enthusiasm for the memory sector and the potential for further growth [11]