Micron Technology, Inc. (MU), SanDisk Corporation (SNDK): Jim Cramer Likes Old Tech

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Jim Cramer said that he likes old tech stocks like Micron Technology, Inc. (NASDAQ:MU) and SanDisk Corporation (NASDAQ:SNDK) in a recent discussion on CNBC.

The comment came from the Mad Money host as he was discussing how investors can take advantage of major themes he said are still in play in the third quarter of the year. According to Cramer, people only need to look at what stocks performed in the last quarter and they will find stocks like Micron Technology, Inc. (NASDAQ:MU) and SanDisk Corporation (NASDAQ:SNDK) which he thinks are good buys.

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According to Cramer, Micron Technology, Inc. (NASDAQ:MU) has quintupled within the last 18 months. He said that as long as there’s no new capacity added in the market where the company is in, he thinks the company will be stable. This echoes thoughts he made in an earlier segment on Mad Money where he talked why the current Micron Technology, Inc. (NASDAQ:MU) run is different. What the host is saying is that the field is now different than from when it was in the past where there were a lot of competitors to Micron and cyclic addition of capacity always toppled price and sent stocks in the niche crashing.

As for SanDisk Corporation (NASDAQ:SNDK), Cramer said he loves the stock too just like its other old tech peers. According to Cramer, he does not see any new foundries in the horizon which will impact supply in the field where the company is competing in. Furthermore, he said that even though the stock is not a bargain, he believes that SanDisk Corporation (NASDAQ:SNDK) will exceed expectations and thus perform well in the stock market. He said he likes SanDisk just like he likes other old tech names like Intel Corporation (NASDAQ:INTC), Cisco Systems, Inc. (NASDAQ:CSCO), Texas Instruments Incorporated (NASDAQ:TXN) and Microsoft Corporation (NASDAQ:MSFT).

Watch the discussion below where he also names other stocks which he thinks are good investments at the moment.

 

Two Sigma Advisors managed by John Overdeck and David Siegel is a Micron Technology, Inc. (NASDAQ:MU) investor. The hedge fund reported about 4.31 million shares in the company by the end of March. Another investor is John Lykouretzos’ Hoplite Capital Management which said it had about 4.3 million shares in the company also in the same period.

Meanwhile, SanDisk Corporation (NASDAQ:SNDK) shareholders includes the hedge fund Winton Capital Management managed by David Harding. The firm said it had 411,690 shares in the company by the end of the first quarter. Another investor is Beeneet Kothari’s Tekne Capital Management which said it had 401,400 shares in the company by the end of March.

 

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