Jim Cramer Discusses These 10 Stocks, The Fed Chair & Lower AI Costs

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders In Q3 2024: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) escaped the DeepSeek selloff relatively unscathed as its shares fell by a tepid 6.4% as nearly a trillion dollars of value was wiped from the stock market. The stock held its ground primarily because even though the firm does cater to the AI market with its accelerators, it has been unable to eke out market share from NVIDIA. In fact, as the narrative of potentially lower AI development costs gripped Wall Street, some even wondered whether Advanced Micro Devices, Inc. (NASDAQ:AMD) could be a beneficiary if high-power GPUs weren’t needed to set up AI models. Cramer commented on an analyst note for the stock:

“[On Ben Reitzes at Melius going to $129 from $160] I know, and I love Ben and he’s absolutely right. There’s some really good stuff he’s been writing and a good video he did yesterday but, by the way, it’s possible that AMD’s a winner just because if you don’t need so much power, boom. So I think, he’s late, but I understand.”