Jim Cramer's Biggest Takeaways From Micron's Earnings

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Let's take a look at Micron's earnings.

Real Money stock of the day Micron MU posted fiscal first-quarter earnings that topped analysts' estimates and said that its fiscal second-quarter "will be the cyclical bottom for our financial performance."

Micron said it expects second-quarter adjusted earnings of 29 cents to 41 cents a share on revenue of $4.5 billion to $4.8 billion. Analysts had been calling for profit of 39 cents a share on revenue of $4.75 billion.

“With our strong execution and improving industry conditions, we are optimistic that Micron’s fiscal second-quarter will be the cyclical bottom for our financial performance,” said Micron President and CEO Sanjay Mehrotra.

Jim Cramer says that he believes Micron when it says that its fiscal-second quarter will be the "cyclical bottom."

Watch the full video for more on Micron's earnings.

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