9 Stocks Jim Cramer Talked About

1. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 82

Cramer likes The Home Depot, Inc. (NYSE:HD) but acknowledged a potential head-and-shoulders pattern. However, Cramer saw it as an opportunity to buy the stock, despite the perceived risk.

“I like Home Depot. You know… Jeff Marks and I, we were going back and forth and back and forth. I wanted to pull the trigger and buy more. He reminds me, look, we already bought some at this area, but let me tell you something, got a head and shoulders pattern, people think’s gonna break down. I want to buy, buy, buy right into that alleged head and shoulders problem.”

The Home Depot, Inc. (NYSE:HD) offers a wide range of home improvement products, including building materials, décor, and lawn and garden items, along with installation services and tool rentals for various home projects.

Carillon Tower Advisers stated the following regarding The Home Depot, Inc. (NYSE:HD) in its Q3 2024 investor letter:

“While Home Depot, Inc.’s (NYSE:HD) recent reported earnings were somewhat tepid, the market seems to be pricing in an inversion of the company’s sales, driven by lower interest rates. Home Depot reported its seventh consecutive quarter of same-store sales declines, giving back substantial gains that it enjoyed during the pandemic. High mortgage rates have also put a damper on existing home sales. People typically spend the most on home repairs and improvements in years when they buy or sell houses, often conducting both transactions in the same year.”

While we acknowledge the potential of The Home Depot, Inc. (NYSE:HD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.