As artificial intelligence (AI) fuels a massive memory storage shortage, CNBC’s Jim Cramer says top storage stocks still have massive upside, even if their valuations seem stretched.
Chasing The AI Memory Boom
Despite staggering year-to-date gains across the sector, Cramer believes the explosive rally in memory suppliers is far from over.
In a recent X post, he highlighted Western Digital Corp. (NASDAQ:WDC), SanDisk Corp. (NASDAQ:SNDK), and Seagate Technology Holdings PLC (NASDAQ:STX) as prime beneficiaries of an accelerating AI hardware rotation.
“Memory shortage stocks have to go to a higher place,” Cramer declared. Emphasizing the intense momentum behind the trade, he added, “It’s very difficult to imagine it, but stocks do gallop to where they should be… WDC, SNDK, STX, will be overheated until they get to where they have to go.”
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