Micron (MU)’s Quarter Was a Thing of Beauty, Says Jim Cramer

Core Insights - Micron Technology, Inc. (NASDAQ:MU) is a key player in the AI ecosystem, manufacturing memory chips essential for AI GPUs, including those from NVIDIA [2] - The company reported fiscal Q1 earnings of $13.64 billion in revenue and $4.78 in earnings per share, surpassing analyst expectations of $12.84 billion and $3.95 respectively [2] - Micron's stock has surged by 227% year-to-date and increased by 26.90% following the earnings report [2] - Analysts, including Morgan Stanley, have raised the price target for Micron's shares to $350 from $338, maintaining an Overweight rating and identifying it as a top AI stock pick [2] - Jim Cramer expressed enthusiasm about Micron's earnings, highlighting its high bandwidth memory component as ideal for data centers [2][3] Financial Performance - Micron's fiscal Q1 revenue was $13.64 billion, exceeding expectations [2] - Earnings per share were reported at $4.78, also above analyst estimates [2] - The stock's year-to-date increase of 227% reflects strong market performance [2] Analyst Sentiment - Following the earnings report, several analysts expressed optimism, with Morgan Stanley increasing the price target significantly [2] - Cramer noted the impressive nature of Micron's earnings call, indicating strong confidence in the company's future [3]