Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

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9. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders In Q3 2024: 75

Costco Wholesale Corporation (NASDAQ:COST) is a discount retailer whose shares are up by 39% over the past twelve months. Over this time period, the firm has battled with dropping consumer purchase power. The reduction has eroded Costco Wholesale Corporation (NASDAQ:COST)’s margins as consumers have put off high-priced purchases that are margin-friendly. The firm’s fiscal first quarter was a surprise as it saw the retailer’s $62.15 billion in revenue beat analyst estimates of $62.08 billion as consumers bought in bulk and availed discounts. Here’s what Cramer said:

“Witness the fact that Costco is really pushing these prices down. I don’t think people realize the force that is Costco, and the force that is Walmart. And the force that is Amazon. These are the inflation fighters, but you, if you’re President Biden the last thing you want to do, is say you know what I’ve been talking to Walmart and they’re doing the right job. It doesn’t happen in this country.”

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