10 Best Jim Cramer Stocks To Buy According to Analysts

6. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Average Price Target Upside: 20.70%

Number of Hedge Fund Holders: 108

Cramer has commended Advanced Micro Devices, Inc.’s (NASDAQ:AMD) CEO and expressed interest in the company’s analyst day and its result. Here’s what he had to say:

“Not to be outdone, Lisa Su, the CEO of AMD, will hold an analyst day and it’s entitled Advancing AI 2024. It starts at noon. Today, when the stock was plummeting, I told investing club members at my 10:20 morning meeting that Su’s presentation could show this charitable trust holding in a whole new light, even as they’ve been raising their AI sales forecast quarter after quarter after quarter. I think it’s a buy ahead of the meeting, although the stock did run eight points after we talked about it at the morning meeting.”

Advanced Micro Devices (NASDAQ:AMD) is a prominent semiconductor company known for its diverse product offerings, which include x86 microprocessors, graphics processing units (GPUs), chipsets, and various solutions tailored for data centers. The company recently hosted an event titled “Advancing AI” on October 10, where CEO Lisa Su provided insights into the upcoming generation of chips, which showed that the company is making significant progress in its technology development.

During the event, Su highlighted the new MI325X chip, which is designed to deliver 80% more high-bandwidth memory compared to the H200 and improve inference performance by 30%. Although the MI325X is not expected to ship until the first quarter of 2025, it represents an important step in Advanced Micro Devices’ (NASDAQ:AMD) ongoing innovation efforts.

Su also announced plans to introduce another new GPU, the MI350X, next year. This chip, based on the next-generation CDNA (compute DNA) 4 architecture, is expected to achieve a remarkable 35-fold increase in performance over its predecessor, the MI300X. The MI350X is positioned to compete directly with Nvidia’s Blackwell chips, with shipments scheduled to begin in the second half of 2025.