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

Core Viewpoint - Micron Technology, Inc. (NASDAQ:MU) reported strong fiscal first quarter earnings, exceeding analyst expectations, which has generated positive sentiment among investors and analysts [2][3]. Financial Performance - Micron reported revenue of $13.64 billion and adjusted earnings per share of $4.78, surpassing analyst estimates of $12.84 billion and $3.95 respectively [2]. - The strong performance was attributed to memory price strength and lower costs [3]. Analyst Ratings and Market Sentiment - Rosenblatt increased Micron's share price target from $300 to $500 while maintaining a Buy rating [3]. - Bank of America highlighted Micron's strong balance sheet and potential benefits from an extended supercycle in the memory market [3]. - Cramer emphasized the importance of Micron in the memory supercycle, noting that the company is currently only able to meet 50% to two-thirds of customer demand, leading to rising prices [3]. Industry Context - The discussion around Micron's performance included insights from major financial institutions like Bank of America, JPMorgan, and Morgan Stanley, indicating a broader positive outlook for the memory semiconductor industry [3]. - Cramer mentioned the impact of AI demand acceleration on Micron's record quarter, suggesting that the company's execution is crucial in meeting market needs [3].