Cramer: Buy Western Digital, Micron, Seagate on oil-driven dips

"Western Digital's strong performance this quarter reflects our disciplined execution to meet demand in the AI-driven data economy. The stock is up 56% year-to-date, which is exactly why Cramer says it needs a pullback before he'd pull the trigger on these positions during an oil-driven market panic."

"Micron Technology is the most compelling fundamental story in the group. Q1 FY2026 revenue grew 57% year-over-year to $13.64 billion, with GAAP gross margins expanding from 38% to 56%. CEO Sanjay Mehrotra called Micron an essential AI enabler with order books extending into 2027, trading at just 12x forward P/E."

"The underlying reason to own them hasn't changed. Cramer framed this around a confirmed memory shortage that, per HP Enterprise, is going to go on for much longer than people think. The data backs that up at every level of the stack across all storage companies."

Jim Cramer has identified four semiconductor and storage companies—Western Digital, Seagate, SanDisk, and Micron—as potential buying opportunities during an oil-driven market downturn, specifically if oil reaches $120. These companies benefit from a confirmed memory shortage that industry experts expect to persist longer than anticipated. Western Digital, now a pure-play hard drive company after spinning off its flash business, reported strong Q2 FY2026 results with $3.02 billion in revenue and expanding margins. Micron shows the most compelling fundamentals with 57% year-over-year revenue growth to $13.64 billion and expanding gross margins from 38% to 56%. Seagate completes the storage trio with strong analyst support. All three companies are positioned as essential enablers of AI data center buildout, though current valuations have already appreciated significantly.

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