Cramer: Micron Could Spark Gains for Semiconductor Stocks Like AMD and Nvidia

Micron Technology (MU) is a stock to watch within the semiconductor industry, according to CNBC's Jim Cramer. He said it "can be a leader" that sparks gains in other chip stocks.

Cramer said AMD shares often rise along with Micron since both companies provide key components for PCs.

Deutsche Bank upgraded Micron to buy from hold and raised its price target to $85 based on expectations the downturn is ending.

Micron makes memory chips used in PCs, smartphones, and AI servers where Deutsche Bank sees signs of improving demand and pricing.

Cramer said if Micron sparks gains, it could provide leadership for the weak semiconductor sector overall, including stocks like Nvidia and Broadcom.