Can Micron (MU) Stock Double Again? Cramer Says Yes

TLDR

• Micron stock fell 4.7% in premarket Tuesday to $963.79, pulling back after closing above $1,000 the day before.
• Rising bond yields hit the wider chip sector, with SK Hynix down 5.1% and Sandisk down 5.5% in premarket.
• Bank of America named Micron a “top pick,” forecasting fiscal 2030 EPS of $200-$250, well above the consensus of $160-$170.
• Jim Cramer said Micron could “double again,” pointing to AI demand and share buybacks as key supports.
• The U.S. Senate set an August 21 deadline for Apple to respond to suggestions it avoid buying memory chips from Chinese producers.

Micron Technology (MU) stock fell 4.7% in premarket trading on Tuesday to $963.79, reversing a five-day winning run that had pushed the stock back above $1,000 for the first time since early July.

Micron Technology, Inc., MU

The drop came as rising bond yields pulled the wider semiconductor sector lower. SK Hynix fell 5.1% in U.S. premarket trading, and Sandisk dropped 5.5%. Higher bond yields raise borrowing costs and tend to pressure growth stocks.

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