Jim Cramer Discussed These 12 Stocks & Elon Musk Vs Sam Altman

6. Best Buy Co., Inc. (NYSE:BBY)

Number of Hedge Fund Holders In Q3 2024: 37

Best Buy Co., Inc. (NYSE:BBY) is a well-known technology and home appliance retailer. Its exposure to consumer spending for pricey items makes it unsurprising that the shares gained a modest 12% in 2024. Best Buy Co., Inc. (NYSE:BBY)’s shares have been on a roller coaster in 2024. They surged by 15% in August after its cost-cutting and promotional strategies led to an upgraded full-year EPS to $6.10 and $6.35 from an earlier $5.75 to $6.20. Yet, Best Buy Co., Inc. (NYSE:BBY)’s stock dipped by 9% in November after comparable sales dropped by 2.8%. Cramer’s latest remarks for the firm mentioned AI PCs:

“I have a charitable trust, my meeting, my monthly meeting, and I have Best Buy on and I don’t have anything good to say. And we have positions where, you know what, I don’t have anything good to say. And that is because I believed in the AI PC. And we gotta drop it by the way. We gotta stop talking about how the AI PC is going to take the world by storm. Because nobody cares.”

“[When asked why nobody cares about AI PCs] Because you can hit up GPT [inaudible] you want! You don’t need it.”