Jim Cramer Says 'Micron Looks Good' As CEO Sanjay Mehrotra Notes Record HBM Revenue, Stock Slides In Pre-Market Trading
Jim Cramer expressed confidence in Micron Technology Inc. (NASDAQ:MU) on Thursday as the memory chip maker reported strong quarterly results and projected record revenue in the next quarter.
What Happened: “Micron looks good. Let’s see what Sanjay says on the conference call,” CNBC’s Cramer wrote on X before the earnings call.
Micron CEO Sanjay Mehrotra delivered on expectations, announcing that the company’s high-bandwidth memory (HBM) revenue grew more than 50% sequentially to over $1 billion in the fiscal second quarter. The company reported earnings of $1.56 per share on revenue of $8.05 billion, beating analyst estimates of $1.42 per share on $7.89 billion in revenue.
“Micron is in the best competitive position in our history, and we are achieving share gains across high-margin product categories in our industry,” Mehrotra said during the earnings call.
The company reported data center DRAM revenue reached a record high, with strong demand for AI-related memory products. Micron projected third-quarter revenue of $8.8 billion, exceeding analyst expectations of $8.49 billion.
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Why It Matters: Mehrotra highlighted Micron’s technology leadership, stating, “Micron’s 1-gamma is our first DRAM node incorporating EUV, and we have achieved 20% lower power, 15% better performance, and over 30% improvement in bit density compared to our 1-beta DRAM.”
The company has increased its HBM market estimate for calendar 2025 to over $35 billion and expects to maintain bit of share in both DRAM and NAND memory. Micron reported being sold out of HBM output for calendar 2025 and is in discussions with customers about 2026 demand.
Price Action: Shares of Micron Technology Inc. closed at $103.00 on Thursday, up 0.92% for the day. In pre-market trading, the stock dipped 1.10% to $101.87, according to data from Benzinga Pro.
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