Jim Cramer highlights Micron’s $100 per-share earnings potential and rapid $500 billion to $1 trillion market cap growth.
Micron Technology (NASDAQ:MU) has drawn comparisons to dot-com era stocks, but Jim Cramer argues its profitability sets it apart. The chipmaker is projected to earn over $100 per share next year, with strong demand for its memory and storage solutions driving growth.
Micron recently achieved a $500 billion to $1 trillion market cap expansion in just 48 days, a pace faster than NVIDIA’s 490-day climb. Despite bubble concerns, Cramer emphasized the company’s fundamentals, including insatiable demand for its high-bandwidth memory products.
Investor skepticism persists, but Cramer’s defense underscores Micron’s position as a key player in the semiconductor sector, contrasting with unprofitable dot-com stocks of the past.