Micron (MU) Stock Drops on Samsung News, But Cramer Says Buy It Anyway
TLDR
- Jim Cramer is bullish on Micron despite a recent stock drop he blames on Samsung’s underwhelming buyback announcement
- Micron posted fiscal Q3 revenue of $41.46 billion, up 346% year over year, with non-GAAP EPS of $25.11 beating estimates by 24%
- Micron has $100 billion in AI contracted revenue locked through 2030, with HBM and DRAM capacity sold out through 2027
- Micron trades at a forward P/E of roughly 6, compared to Intel at 68.97 and AMD at 61
- Cramer named Micron as his top pick among four “indispensable” memory chip stocks, alongside SanDisk, Seagate, and Western Digital
Jim Cramer is doubling down on Micron Technology, calling the memory chip maker radically undervalued even as its stock moves up and down on headlines from South Korean rivals.
Micron stock is up roughly 254% in 2026, but a recent pullback caught attention. Cramer says the sell-off had little to do with Micron itself.
The trigger was Samsung’s shareholder-return announcement. Investors judged it as inadequate compared to what SK Hynix had already committed to. SK Hynix unveiled plans to repurchase and cancel roughly $28.6 billion worth of its own stock between August 20 and November 19.
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