4 Memory Stocks Cramer Says Could Avoid an AI Bust and Keep Climbing

Mitrade Team
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Jim Cramer says four memory chip stocks still have room to climb, even after posting some of 2026’s biggest gains. The Mad Money host argues Micron, SanDisk, Seagate, and Western Digital have broken their old boom-and-bust pattern.

AI data centers have created a persistent memory chip shortage. Elon Musk has called memory the key bottleneck to data center growth, and Cramer says that shortage, not hype, separates this rally from prior cycles.

Micron (MU)

Cramer’s Charitable Trust bought Micron last week during a pullback tied to South Korean peers’ selloff. He calls the stock more of a growth name than its rivals.

Micron has gained 242% this year, and gross margin jumped from 39% to 85% year over year. Shares trade near seven times fiscal 2027 earnings estimates.

Micron is pushing upwards again after its July rout. Micron is pushing upwards again after its July rout. Image Source: Trading View

Cramer said Micron could double again if data center demand holds, and he plans to visit the company’s Idaho research facility this week to interview CEO Sanjay Mehrotra.

SanDisk (SNDK)

SanDisk has climbed 631% in 2026, and is one of the best preforming stocks thus far. The company authorized a $15.5 billion buyback and posted an 85% gross margin, up from 26% a year earlier. Shares trade near eight times fiscal 2027 earnings estimates.

SanDisk is one of the best performers of the year. SanDisk is one of the best performers of the year. Image Source: Trading View

Seagate (STX)

Seagate is up 252% this year. It authorized a $5 billion buyback last year and posted a record 52% gross margin, up from 37%. The stock trades around 17 times fiscal 2028 earnings estimates.

Seagate is also recovering from its July drop. Seagate is also recovering from its July drop. Image Source: Trading View

Western Digital (WDC)

Western Digital has gained 202% in 2026. The company approved a $4 billion buyback and lifted gross margin to 54% from 41%. Shares trade near 16 times fiscal 2028 earnings estimates. Only Micron has skipped a buyback so far, a gap Cramer called curious given the other three companies’ payouts.

Multiyear supply agreements underpin those margins. BeInCrypto previously reported multiyear customer agreements worth $93.9 billion across eight clients, including three US hyperscale data center operators, cited by Evercore ISI as the basis for a bullish SanDisk rating.

The case is not one-sided. BeInCrypto has covered supply glut fears hitting these same names, and Cramer warned three weeks ago that the AI trade echoed the dot-com bust.

Cramer said the biggest risk is Samsung ramping new capacity to flood the market, but he does not expect that to happen soon since new fabs take years to build.

Disclaimer: The content presented above, whether from a third party or not, is considered as general advice only. CFD trading involves significant risk of loss. Past performance does not guarantee future results. This article serves informational purposes only and does not constitute financial advice. Consider your risk tolerance before trading.

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