10 Large Cap Stocks Jim Cramer Can’t Stop Talking About

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

Number of Hedge Fund Investors: 108

Market Capitalization: 221.6B

Jim Cramer emphasizes that Advanced Micro Devices Inc. (NASDAQ:AMD) is not just competing with NVIDIA Corporation (NASDAQ:NVDA) but is actually dominating the market. According to Cramer, Advanced Micro Devices Inc. (NASDAQ:AMD) is capturing significant market share, however the performance of NVIDIA Corporation (NASDAQ:NVDA)’s high-end chips is not significantly impacted by AMD’s offerings. This highlights Advanced Micro Devices Inc. (NASDAQ:AMD)’s strong position and influence in the semiconductor industry.

“AMD isn’t nipping at their heels. AMD is dominating. It’s actually taking gobs of market share.”

Advanced Micro Devices Inc. (NASDAQ:AMD)’s latest earnings report shows a robust performance, with a 9% increase in revenue year-over-year, reaching $5.84 billion, driven by a rebound in chip demand. Advanced Micro Devices Inc. (NASDAQ:AMD)’s adjusted earnings per share climbed to $0.69, bolstered by improved efficiency and a higher gross margin of 53%, up from 50% last year. Advanced Micro Devices Inc. (NASDAQ:AMD)’s strength in high-performance computing is evident, as its EPYC CPUs and Instinct GPUs have powered the world’s fastest supercomputer for three years in a row. The introduction of the Ryzen 9000 Series processors, built on the new “Zen 5” architecture, further boosts Advanced Micro Devices Inc. (NASDAQ:AMD)’s competitive edge in gaming, productivity, and content creation.

Looking forward, Advanced Micro Devices Inc. (NASDAQ:AMD) anticipates a strong Q3 2024, with projected revenue of about $6.7 billion, representing a 16% increase from the previous year. Advanced Micro Devices Inc. (NASDAQ:AMD) is expanding its presence in AI and data centers, with new customer wins and product launches set to capitalize on growing demand for advanced computing.