Micron Technology shares rose 2.24% to $1,038.51 in Monday’s premarket session, outperforming a stronger broader market in which Nasdaq futures gained 0.97% and S&P 500 futures advanced 0.68%. The stock is attracting attention ahead of its Sept. 30 earnings report, with CNBC’s Jim Cramer saying he would hold the shares despite their sharp AI-driven rally. Cramer cited a valuation of about 13 times earnings and potentially around six times next year’s earnings, describing the stock as "incredibly cheap." Micron has benefited from demand for high-bandwidth memory (HBM), memory used in AI systems, making HBM demand, memory pricing and management’s outlook key issues for investors. The shares remain in a strong uptrend, trading above their 20-day, 50-day, 100-day and 200-day moving averages, and have gained about 517% over the past 12 months. Wall Street expects Sept. 30 earnings of $31.33 per share on revenue of $50.95 billion, compared with $3.03 per share and $11.31 billion a year earlier. Micron has a Buy consensus rating, an average price forecast of $1,521.74 and significant exposure in several semiconductor ETFs.