CNBC Investing Club: Cramer’s Morning Take on Micron 8/11/26

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to most quarterly earnings...

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**Jim Cramer** (1:02)
Jim Cramer here to share a short preview of my take on the market from today's members-only CNBC Investing Club Morning Meeting. Join the club for full access to the morning meeting every day at 10:20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

**Jeff Marks** (1:23)
Well, we have a new position in the portfolio this morning. We have been making a lot of moves lately, subtracting names. Now we're adding one.

**Jim Cramer** (1:30)
And we'll talk about that Thursday. Of course, you'll be talking about this right there at our club. Yes.

**Jeff Marks** (1:35)
Yes. But it's Micron, one of the big three in the memory market, four chips, Nan and DRAM, as well as HBM, high bandwidth memory, which is a specialized form of DRAM. Demand continues to grow faster than supply, leading to strong pricing power. Gross margins have pushed into the 80s here. Historically, this has been a boom in bus market, though.
And the shares reflect that. Nine times earnings estimates for 26

**Jim Cramer** (2:05)
Yes.

**Jeff Marks** (2:06)
So they have been changing their business model, signing up these strategic customer agreements, putting in price ceilings and price floors. It's had a nice move this year, as you can see, but still well off the, about 28% off the all-time high close of 12-13 on June 25th. So not buying it at the top, so to speak.

**Jim Cramer** (2:26)
But also, I mean, SK Hynix and Samsung are down. I think that's more a reflection about Korea and the leverage in that market being unwound. And this has been trading with that. I do want to point out that Micron has a multi-year move history. I know there are tons of people who bought it here, and that's true. The people who bought it, the captain on my ship bought it at 75 I absolutely understand that we did not participate in some of the run, but, you know, look, we were using NVIDIA for the run, and I still like NVIDIA with this new, you know, this new securitization.

**Jeff Marks** (2:55)
Yeah. Yeah, we'll get into more on that in a moment. I just want to add, it's a very volatile name. You'll see big swings in both directions, which is why we started it off on the smaller side, half a percent.
Just something to note there. And this comes after we bought some more Intel yesterday. After the equity raise, they up-sized it to $20 billion at $95 per share, 6.5% discount to Friday's price.

**Jim Cramer** (3:20)
Doing well off of 95

**Jeff Marks** (3:23)
So what do you think, Jim?
The idea is that they're going to use this money to build out Foundry, to build out advanced packaging solutions. They wouldn't do this, this is the theory, if they didn't perhaps have a big customer lined up for Foundry.

**Jim Cramer** (3:39)
Totally. I don't think that David Zinser, the unbelievably good CFO, would say, listen, I think we should raise this money unless they have something in hand.

**SPEAKER_3** (3:50)
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