Jim Cramer: Micron's stock still holds value after a 700% increase
2026-08-21 21:45:05
According to CoinMeta, Jim Cramer stated in the August 20 episode of "Crazy Money" that Micron Technology (Micron Technology) was still considered "highly valuable" and a "national treasure" even after experiencing a 700% increase in its stock price. He pointed out that despite the concerns raised by planned internal sales and repurchase restrictions, Micron's low forward-looking valuation and strong AI drove earnings growth, supporting his bullish outlook. Micron's stock closed at $974.33 on that day, up about 4% from the previous day. Additionally, Bank of America recently included Micron's stock in its list of best investment ideas and raised its target price to $1550. Micron's third-quarter financial report showed that revenue soared from $9.3 billion in the same period last year to $41.46 billion, with adjusted earnings per share reaching $25.11, and non-GAAP gross margin climbing to 84.9%. Management expects revenue in the fourth quarter to reach approximately $50 billion, with adjusted earnings per share of around $31, mainly driven by strong demand for AI data center memory.
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Source:Coinpaper
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