In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer highlighted the often-overlooked role of currency fluctuations and explained why a weaker U.S. dollar might actually benefit American companies:
“The tariffs are going to be offset by the weak dollar. People forget that. And weak dollar’s good. We have a lot of people who work at the network who think weak dollar’s bad. I don’t know where they get that, because if you listen to a conference call, the weak dollar could save us from the tariffs.”
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As the conversation shifted toward geopolitical risks and the strategic rivalry with China, Cramer referenced the book Death by China to illustrate fears about China’s technological dominance and the potential consequences for U.S. national security:
“Look, in 2011, I got Death by China. When you stop, and the book is about Navarro, and it’s basically about World War III. He doesn’t mention that. I’m adding that. Graham Allison talks about World War III. He was one of my professors. So, hey, listen up. You can’t even, so it’s not even stock right now, but Death by China just talks about their grand plan to take us over. And when you go back and read it, it’s more cogent than you thought. It’s like Ghost Ship, which is one that Mark Benioff gave me about how our Navy eventually is going to be made of all Chinese chips and we go to use it against the Chinese and nothing happens.”
While discussing the increasing competition between American and Chinese companies, Jim Cramer re-affirmed his position that the U.S. is still very much ahead of China, saying:
“I think that there should be a great competition and real arms race. We shouldn’t be helping them and let’s see who wins. […] Look, I think that we’re unbelievably great. We’re well ahead in scale. I don’t trust the Chinese. I would never want to use their stuff because I think that they would in the end be, you’d be captive to that regime. I think that we’re still ahead.”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on April 16th.
For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
13. Nvidia Corporation (NASDAQ:NVDA)
Number of Hedge Fund holders: 223
Nvidia Corporation (NASDAQ:NVDA) was at the center of the episode as the panel discussed a $5.5 billion inventory charge related to U.S. restrictions on GPU exports to China. Jim Cramer defended CEO Jensen Huang and emphasized Nvidia’s critical role in both AI and military applications. Here’s what he said:
“Look at that NPR report, April 8th, that said, look, they’re probably going to be OK. I think they’re holding their breath and they felt that they would be OK. So when I read that story, I just think, is that really the case, that they really just say they kept the Chinese in the dark? How about they kept… everybody who owns a stock in the dark, I care more about that than I care about the Chinese for heaven’s sake. […] I think Jensen Huang’s an honest man. I think he didn’t really know. I do believe, though, that you could be led to believe one thing in the administration and then David Glove the other.
Just take a look at what happened on Friday night when you were led to believe that perhaps there were exemptions. uh… for some tech and then and then on Sunday when you were heard Howard Lutnick you were led to believe that there were. So I don’t think Jensen’s in any position on every other executive that has been dealing with this administration.
[Talking about Nvidia’s chips] I also want to point out that while they are not the latest and greatest, people talking about being two generations old, they’re still NVIDIA chips that can do a lot more than everybody else. I am surprised they take a $5.5 billion charge for chips that I think somebody wanted, but I don’t know how that’s going to work. I do want to point out something that is not in the news that people should realize. NVIDIA’s dropped now about four more dollars than it did at 4 a.m. But if you go look at the missiles that the U.S. used in Ukraine, those are guided by NVIDIA chips. So you can say all you want that this is really about DeepSeek, but I’m sure that there’s some administration that’s about military. Because if you can get these chips souped up again, you’re going to be able to put them in missiles the way that all the missiles that we make have NVIDIA in it. I don’t think people realize it. […]
[On why you can’t own NVIDIA and Apple anymore] I was very depressed on Sunday because I said, look, I still want to own, but you can’t own them. You can’t own and not trade. You can’t because the government doesn’t like these. It’s about the idea that, well, first with NVIDIA, it’s the data center worries. […] And so far, it looks like it means absolutely nothing. And I was very sad about it, because I’ve been saying, you know, don’t trade. Own these stocks forever. NVIDIA, I know, since it was two. But I said, no, that’s it. You can own some, but you have to sell.”
12. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund holders: 86
ASML Holding N.V. (NASDAQ:ASML) came up in a discussion about chip equipment makers facing increased uncertainty due to new U.S.-China tariffs. Cramer highlighted concerns about ASML’s exposure to China and emphasized the company’s importance in chip manufacturing, saying:
“Right, ASML. I was thinking about them, and I was thinking about, they ought to hire a guy named Glenn Kirby. They had to hire the United Airlines guy because they had no idea what’s going on. Then I look at … I tried to see the China breakdown on this page seven of their deck, 27% with China. Used to be 41%. Maybe we need them again. […]
But again I come back to the idea that what is someone could look at this at the in the government and say, wait a second, what is this? It’s 27% China. Well, you know, here’s what I’m doing to that.”
11. Abbott Laboratories (NYSE:ABT)
Number of Hedge Fund holders: 66
Abbott Laboratories (NYSE:ABT) was discussed in the context of a strong earnings report and potential guidance increase before tariffs. Cramer described it as a “tour de force quarter” and applauded CEO Robert Ford’s leadership. Here’s what he said:
“By the way, can we just be sure Abbott did not miss. That’s a COVID test that’s coming down. And Abbott is the first one that I’m beginning to see. […]
Dollar weakness coming. It’s going to help them. Where do they build their factories? In the United States. For the United States. Overseas. For overseas. David, they are on fire when it comes to so many different line items, including heart. Diagnostics are pretty good. Baby food, if they continue to have a problem with it.
I’ve got to tell you with some of that stuff that they’re doing with that lawsuit, they’re not going to just sit there and take it. I thought that Robert Ford did a remarkable job. Tour de force quarter, people should listen to how you can raise numbers. Do it right. By the way, they kept numbers flat, but raised numbers on a weak dollar. And I just am just amazed at how good they are. That’s a Miles White legacy, Robert Ford keeping it going. The only week this was because of the COVID, the test you can still get. What a quarter.”
10. CVS Health Corporation (NYSE:CVS)
Number of Hedge Fund holders: 74
CVS Health Corporation (NYSE:CVS) was mentioned by Cramer, who predicted the company would raise guidance thanks to its strong performance:
“You know who’s going to raise? Yeah. CVS. They are crushing it. CVS is going to raise. I got CVS. “
CVS Health Corporation (NYSE:CVS) is a diversified healthcare company that operates a large pharmacy chain, provides health insurance through Aetna, and offers pharmacy benefit management services via CVS Caremark. The day before, Jim Cramer has also outlined his bullish position on the stock, saying:
“Have you noticed that CVS stock keeps going up because they’ve got Aetna and they’re also the only drugstore left, right? Walgreens closing, going to close a lot of stores. […] And Rite Aid’s closing stores, that leaves CVS.”
“The health insurers are all roaring too. Why? Because they’re domestic, very hard to tariff and they can go much higher if you want to avoid the tariff shroud. CVS, which owns Aetna, moved up against Cigna’s running.”
9. Target Corporation (NYSE:TGT)
Number of Hedge Fund Holders: 56
Target Corporation (NYSE:TGT) came up in response to a downgrade from Goldman Sachs, with concerns about pricing, product sourcing, and soft consumer demand. Cramer was cautious, warning investors about potential earnings pressure:
“You know, when you go over to the downgrade of Target today, at Goldman, then you look at where Target sources things, and you get a sense, look, they’ve moved away from China. But wherever you moved, unless you moved to Texas where everyone’s moving, you’re still going to get hit. That’s why target numbers have to come down. Plus, they also say that business isn’t that good. I looked at that Target downgrade and I said, you got to be careful here.”
8. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 317
Microsoft Corporation (NASDAQ:MSFT) was discussed following a Morgan Stanley note that cloud growth might decelerate. Cramer said Azure was key to the bull thesis and warned that slowing growth would hurt the stock. Here are his thoughts:
“People don’t talk about Microsoft. It’s not on the red hot griddle. It’s not being criticized. No one really seems to care. Other than the fact that they wrecked the whole data center story by putting the Ohio on hold. We’re about three mile island still waiting for that. To me, that’s just the least economical way to get power.
Morgan Stanley comes out with a piece, Keith Weiss is really good, talking about how Azure is going to probably not make the number. Azure has been the swing point. We thought that Azure might, that’s the big cloud business. We thought it might accelerate. That was the key to betting why you want to be in the stock, was acceleration. Because the stock’s just been abysmal.
Now, David, no acceleration coming. Maybe deceleration, not good. And then also, co-pilot, which Mark Benioff constantly makes fun of. […]
But here’s what I think is so important, ultimately. Microsoft’s overall position remains strong, and the shares may be nearing a valuation floor. We keep hearing about floor and decor, and not the company. But I see the difference. In the end, what matters is this is a Zeitgeist stock. And it matters what Amy Hood says on the conference call. Amy Hood is fantastic. And if Amy Hood says, you know, Azure’s a little slower, then this doesn’t hold 380, it goes to 360. And I just think that, I hope that they offset, put some of those data centers over there in an open AI, right? Because they need that valuation they have. And then they surprise to the upside on the CapEx and then whamma jamma.”
7. Agnico Eagle Mines Limited (NYSE:AEM)
Number of Hedge Fund Holders: 53
Agnico Eagle Mines Limited (NYSE:AEM) was highlighted as Jim Cramer’s favorite gold stock during a discussion about the ongoing rally in gold prices. He emphasized the company’s low-cost production, safe locations, and long-term value. Here are his remarks:
“Agnico Eagle. That’s the one. It’s got the lowest finding cost and it’s safe gold. It’s in good places. I think that you can buy them and actually do better than the price of gold. 1% of the gold each year is replenished. That’s all. So there is some scarcity value in the trade. And it remains on Costco. It’s the number one seller at Costco.”
Agnico Eagle Mines Limited (NYSE:AEM) was recently included in Jim Cramer’s list of the best stocks to buy right now in this regime. Here’s what he said about it:
“Finally, there’s gold, which is defying everyone’s target. How many people say gold’s peaking? It’s not peaking. I believe that gold is back because crypto has quietly lost its luster. […] You want gold, go with the best. You go with Agnico Eagle. It’s the most efficient producer. It’s like clockwork in an industry that frankly has it ceased to be as productive as it used to be.”
6. Costco Wholesale Corporation (NASDAQ:COST)
Number of Hedge Fund Holders: 96
Costco Wholesale Corporation (NASDAQ:COST) was praised by Cramer as a standout in retail, especially when compared to Target. He cited Costco’s strong pricing power, aggressive supplier negotiations, and continued consumer traffic. Here’s what he said about the retailer:
“Look, I happen to like both stores. I toured a nice Target with Brian Cornell a couple months ago, and they’ve got a lot of good products, but the prices are high. They don’t have a lot of products that are priced to, say, 2018, 2019 levels. You go to Costco, and Costco is the great negotiator. They’re in there telling people, listen, if you want to come in and you want to sell, well, I’ll tell you, here’s the price you’re going to sell it at. […] But I was in Costco 2 weeks ago and I was right before a big hoarding day that that Sunday was a big hoarding day Costco Saturday was just very busy day. Holy cow the prices they remind me of like when I was like you know before the younger. Yeah, I mean you go there is like wow wow oh my you know the samples, I mean just outrageous.”
5. T-Mobile US, Inc. (NASDAQ:TMUS)
Number of Hedge Fund holders: 70
T-Mobile US, Inc. (NASDAQ:TMUS) was brought up during a discussion about pricing resilience and inflation pressures in telecom. Jim Cramer noted that T-Mobile has managed to avoid raising prices so far, which may explain its strong stock performance. Here’s his analysis:
“But, you know, if you go to Costco and you want to get a T-Mobile phone, it’s the same. They haven’t adjusted the prices yet. So that’s where you want to go. The prices haven’t gone up yet. […] Prices are not going up. And when they go up, they’re talking about a $10 a month increase. I don’t know how they’re doing it. But T-Mobile’s been up very strong of late. And I think that’s because you can still get a great deal.“
4. Meta Platforms Inc. (NASDAQ:META)
Number of Hedge Fund holders: 262
Meta Platforms Inc. (NASDAQ:META) came up as the panel was discussing the anti-trust case between CEO Mark Zuckerberg and the FTC. Jim Cramer took the opportunity to express his bullish opinion on the company and how he thinks it’s the only real competitor to the Chinese TikTok. Here’s what he said:
“Can I just say meta is ridiculously cheap? […] And I like that, but there’s nothing meta is… Meta’s our last bastion other than TikTok. It’s the answer to Mao. See, why doesn’t the president say stuff like that? […]
Instagram’s fine. Instagram’s great as a matter of fact. And Reels is just dynamite.”
Cramer discussed Meta Platforms Inc. (NASDAQ:META) a few days ago and it’s antitrust case. Here’s what he said last week:
“I mean, all I know is that you break it up, you make even more money. It’s even better. I was on WhatsApp this weekend, David. That’s worth the price of the company. WhatsApp is a very powerful platform. Yeah, you have to hold it down and then you let it go and you talk into it and it’s just amazing. I’m all over it. Oh, I’m a WhatsApp guy. I have a lot of executives who really just, they come to me on WhatsApp.”
3. United Airlines Holdings Inc (NASDAQ:UAL)
Number of Hedge Fund Investors: 86
United Airlines Holdings Inc. (NASDAQ:UAL) was highlighted as a rare bright spot in the market after better-than-expected earnings and dual-scenario guidance. Cramer praised the airline and its CEO Scott Kirby for running a “really well-run” business. Here are his remarks:
“They’re taking out 4% of the capacity. They get rid of every bad route. The numbers that they have, how well they’re doing is extraordinary. We should be talking about that more because that stock sells at six times earnings. And when you listen to Scott Kirby, it’s not going to Scott. I am telling you that interview and then if you read their statement, it’s like an airline that reads like any other business in the world now. Just really well run. […]
Because Kirby’s so forward. He understands it. I think that Kirby’s incredible. I think that United, look, I’m right next to the Newark airport. I’m not an advertisement for United, but their app is unbelievable. I mean, they’re just ahead of everybody.
2. J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)
Number of Hedge Fund Investors: 47
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) came up following its earnings report. Although the initial numbers looked good, Jim Cramer criticized the company’s messaging on the earnings call and suggested the tone was uninspiring. Here’s what he said:
“Once again, J.B. Hunt gives this conference call and you’re just, it’s like I come in hot, the number’s good, it looks okay, 21 times earnings. And by like the fifth paragraph, I want to slit my throat. They have got to get their act together in terms of happiness. They do. What’s up with Dan? What’s the guy’s name? They have an order for 10% happiness. I’m going to send them copies in that board. Every board member is going to get a copy of Dan Harris.”
1. Paychex, Inc. (NASDAQ:PAYX)
Number of Hedge Fund Holders: 36
Paychex, Inc. (NASDAQ:PAYX) was previewed as part of Cramer’s “Mad Dash” segment, where he highlighted its growing relevance in the cloud-based human capital management space. He spoke positively about the company’s leadership and performance in the SMB segment, saying:
“And we have Paychex. They’re closing with Paycore. They’re going to become, I think, the cloud specialist when it comes to human capital management. John Gibson is so underrated as the CEO. He’s fabulous. Small, medium-sized business still doing very well.”
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