Stocks traded mixed Friday as investors assessed expectations for more economic stimulus following a weaker-than-expected U.S. jobs report.
TheStreet’s Katherine Ross discussed breaking news in the stock market. Cramer spoke about Micron stock, Roku’s content deal with Quibi and markets on Friday.
Micron: Buy Or Sell?
The Boise, Idaho company reported quarterly results that topped analyst estimates for its fiscal first quarter, which ended Dec. 3.
Cramer said Micron trades in a wild fashion. “I expect it could be down. It sells 20 times earnings and the earnings estimates are way too low. It beat the numbers gigantically and yet people have to remember there were a lot of early birds who were in it. There is a critical shortage of DRAMs and they have enough inventory to make a lot of money. Wait till the stock goes to $79 and buy some.”
Roku: Buy Or Sell?
Cramer said Roku certainly has enough money to compete with streaming giants. “They are very well run. I think the more original content you have the higher your valuation is going to get.”
Markets on Friday
Cramer said he was watching the rising number of deaths caused by the coronavirus in the U.S.
“You can’t have 400,000 deaths without a sense that there will be some sort of lockdown. When the new president comes in that is better for the economy, but the Feds are in a spot here, to keep the rates low because of unemployment and the deaths from covid. And yet there are other parts of the economy that are on fire including the housing market, transport sector, lots of commodities are going up. So, it’s a great conundrum moment and we have to approach it cautiously.”