In this article, we will take a detailed look at some of the stocks Jim Cramer is recommending in June.
Jim Cramer in a latest program talked about the effect of inflation on US consumers and discussed how it’s impacting the Haves and the Have Nots. Cramer said while everyone is feeling the “pinch of inflation,” the Have Nots are feeling a “heck of a lot more” than the Haves. Cramer said that the difference between these two classes of consumers is very important for investment portfolios. He complained that many retailers don’t even know their consumers and that’s why they have a totally different reading of the current economic situation and its effects on consumers. Cramer criticized those who aren’t careful about the differences between consumers and use “the consumer” as a blanket term.
Cramer talked about several retail companies and how they are directly feeling the effects of inflation as consumers cut back on spending. The CNBC host said that Americans are making tough choices because of rising prices but we usually don’t talk about it.
Jim Cramer said that many strategists demand several rate cuts because “they want stocks higher.”
“I want higher stock prices too but if we get multiple rate cuts and inflation comes roaring back, it’s the Have Nots that will get hurt.”
Jay Powell Is Worried About Tens of Millions of People With Almost Nothing in the Bank, Cramer Says
Jim Cramer said that while many people won’t be happy to see a strong jobs report (because that decreases the chances of rate cuts), they should keep in mind the tough situation the Federal Reserve is in.
“Jay Powell isn’t worried about those of us with big portfolios. He’s worried about the tens of millions of people with almost nothing in the bank.”
For this article we watched several latest programs of Jim Cramer aired recently and picked 10 stocks he’s bullish about and recommending investors to buy or hold. With each stock we have 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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
10. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)
Number of Hedge Fund Investors: 18
Jim Cramer yet again praised Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in a latest program, saying that he likes the company’s CEO Julie Felss Masino because she is taking all the tough but necessary decisions. Cramer said Masino’s initiatives depict leadership and courage.
“I am with her. I would not sell that stock.”
A few weeks ago, Cramer said that he is “amazed” that Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) stock has “dropped like a rock” and wondered how the company can “cover that dividend.”
Cramer analyzed Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in detail recently, acknowledging Cracker Barrel Old Country Store, Inc.’s (NASDAQ:CBRL) struggles but saying he’s hopeful of a turnaround amid a new CEO and restructuring plans. At that time Cramer told investors to wait until we get clarity on Cracker Barrel Old Country Store, Inc.’s (NASDAQ:CBRL) dividend future.
Cracker Barrel Old Country Store, Inc.’s (NASDAQ:CBRL) CEO talked in detail about her planned transformation of the company during the latest earnings call:
“We did extensive research and really putting together the transformation plan. We talk to guests all over the country, all different kind of segments, all kinds of backgrounds and also listen to our team members and really took great stock and kind of where we find ourselves. And with traffic down almost 20% to 2019, they’re telling us they’re not choosing us. And so digging into the lives there was really, really important. We heard from them that the experience in Cracker Barrel just isn’t as relevant specifically at dinner. So we — and our dinner sales are down. When you look at that year-over-year, it’s 35% of our mix, and it’s an important daypart for us. We’ve held up quite well at breakfast.
But what guests have told us is that the Cracker Barrel experience, there are more relevant choices for them in the dinner daypart based on the experiential factors. So a lot of that is looking at the comfort of the tables, the lighting, the paint, all of those things.”
Read the full earnings call transcript here.
9. Ingersoll Rand Inc (NYSE:IR)
Number of Hedge Fund Investors: 32
Industrial products company Ingersoll Rand Inc (NYSE:IR) is one of the stocks Jim Cramer is recommending investors to hold on to. Cramer recently said in a program that “let’s just hold on” to IR.
“They are a reconstituted company that is doing a lot of things right.”
Cramer said the fact the stock hasn’t seen much movement tells him it’s about to “reaccelerate.”
In May, Ingersoll Rand Inc (NYSE:IR) posted Q1 results. Adjusted EPS in the period came in at $0.78, beating estimates by $0.09. Revenue in the quarter jumped 2.5% year over year to $1.67 billion but missed estimates by $30 million.
Ingersoll Rand Inc (NYSE:IR) is involved in producing mission-critical products in various industries including air, fluid, energy, specialty vehicle, and medical industries. Analysts believe Ingersoll Rand Inc’s (NYSE:IR) climate/energy-related business could see high growth as demand of these products increases. Ingersoll Rand Inc’s (NYSE:IR) energy efficiency solutions are supplied to life science, food & beverage, clean energy, general manufacturing, infrastructure, water, transport, electronics markets.
The company’s management talked about guidance in the latest earnings call:
“Given the solid performance in Q1, we’re raising our 2024 guidance. Total company revenue is expected to grow overall between 4% to 6%, which is down 100 basis points versus prior initial guidance, driven entirely by FX. We anticipate positive organic growth of 2% to 4%, consistent with prior guidance, where price and volume remains split at approximately 70/30…. adjusted EPS is projected to be within the range of $3.20 and $3.30, which is up 2% versus prior guidance, and approximately 10% year-over-year at the midpoint. On the bottom right-hand side of the page, we have included a 2024 full-year guidance bridge, showing the changes in our latest guidance as compared to our initial guidance provided in February. [read the full earnings call transcript here]”
IR’s growth estimates set by Wall Street is 10% for the next year. Average analyst price target on the stock is $100, which presents a 10% upside potential from the current levels. Ingersoll Rand Inc (NYSE:IR) could be a rewarding investment for patient investors.
8. MasTec Inc (NYSE:MTZ)
Number of Hedge Fund Investors: 42
Florida-based infrastructure engineering and construction company MasTec Inc (NYSE:MTZ) is one of the best Jim Cramer stock recommendations in June. When asked about the stock, Cramer said MasTec Inc (NYSE:MTZ) is a “great infrastructure play.” Cramer said that MasTec Inc (NYSE:MTZ) is making a comeback.
“People say it’s down and out. No! That is a very good company. Jose R. Mas (MasTec CEO) is doing a terrific job. We like MTZ,” Cramer added.
Wall Street analysts are starting to talk about the stock, too. They believe despite low pricing power, the broader economic slowdown won’t impact specialty builders like MasTec Inc (NYSE:MTZ). Last year MasTec Inc’s (NYSE:MTZ) revenue jumped 23% to $12.0 billion, compared to $9.8 billion for the prior year.
Over the past one year the stock has slipped 0.8%. Despite its strong performance this year, some believe MasTec Inc (NYSE:MTZ) is undervalued. While its forward P/E of 35 is higher than the industry average, based on Wall Street’s estimates of a 49.70% earnings growth this year and 46% growth next year, the stock could be an attractive choice for long-term investors. Average analyst estimate for the stock is $121.69, which presents an 11% upside potential.
FPA Queens Road Small Cap Value Fund stated the following regarding MasTec, Inc. (NYSE:MTZ) in its first quarter 2024 investor letter:
“MasTec, Inc. (NYSE:MTZ) is a contractor that builds and repairs infrastructure for telecoms, electric utilities, oil and gas pipelines and the clean energy industry. The company benefits from strong spending for 5G in telecom and government support (including the Infrastructure Investment and Jobs Act) for clean energy and the electrical grid.10 The Mas brothers have an impressive history of rolling up smaller players and growing earnings, most recently in the electrical and clean energy spaces. But we became uncomfortable with the low margins and competition in the electrical utility and clean energy businesses. On Aug 4, 2023, in its Q2 2023 earnings release, the company reduced guidance, and we began to exit our position, partially in Q3 2023 and fully by the end of Q4 2023.”
7. Monday.com Ltd (NASDAQ:MNDY)
Number of Hedge Fund Investors: 46
Despite his recent bearish calls on enterprise software stocks, Jim Cramer in a latest program agreed with a caller who is bullish on Monday.com Ltd (NASDAQ:MNDY).
“MNDY is really good. … Enterprise software has a bit of resurgence today, led by Salesforce. But Monday.com is a very good company. You had a good call there.”
Last month Monday.com Ltd (NASDAQ:MNDY) shares jumped after the company posted strong Q1 results and increased its guidance. Revenue in the March quarter jumped 33.6% year-over-year to $216.91 million, surpassing estimates by $6.29 million. One of the biggest green shoots in the quarter was a stabilized net retention rate of 110%. Monday.com Ltd (NASDAQ:MNDY) said new product launches, larger penetration in the market and price increases were some causes of a stabilized NRR. Operating margin in the period was 10%, up from 0% a year ago and ahead of the 5% guidance.
Adjusted profit in 2024 is expected to come in the range of $77 million and $83 million, up from a prior view of $58 million to $64 million.
Monday.com Ltd (NASDAQ:MNDY) valuation has become attractive following the company’s increased revenue growth guidance. Monday.com Ltd’s (NASDAQ:MNDY) revenue growth is double its competitors like Atlassian (TEAM), Asana (ASAN) and Smartsheet (SMAR). Wall Street expects the company’s revenue to grow 27% this year.
ClearBridge Mid Cap Growth Strategy stated the following regarding Monday.com Ltd. (NASDAQ:MNDY) in its fourth quarter 2023 investor letter:
“We established a position in Monday.com Ltd. (NASDAQ:MNDY) in the IT sector, which provides software efficiency work management tools through its cloud-based operating system. After an extended stretch of revenue deceleration in the software industry, we believe conditions are stabilizing, and monday.com is exceptionally well-positioned to capitalize on an industry re-acceleration, especially as it expands from a single product into a platform offering.”
6. PNC Financial Services Group Inc (NYSE:PNC)
Number of Hedge Fund Investors: 52
Headquartered in Pittsburgh, Pennsylvania, PNC Financial Services Group Inc (NYSE:PNC) is one of the most notable regional bank stocks. Jim Cramer was recently asked about the stock during his program on CNBC. Cramer hit the “buy, buy, buy” button for the stock and said he believes the stock will touch its all-time high and then go “higher.” Cramer also highlighted that the stock’s yields 4% in dividends.
With over 14 years of consistent dividend increases, PNC Financial Services Group Inc (NYSE:PNC) is indeed a solid dividend growth stock. Last year PNC Financial Services Group Inc (NYSE:PNC) paid just 27.3% of its earnings in dividends, which means it’s a safe dividend stock.
PNC Financial Services Group Inc (NYSE:PNC) reported strong Q1 results in April driven by lower provision for credit losses and lower core expenses.
Artisan Value Fund stated the following regarding The PNC Financial Services Group, Inc. (NYSE:PNC) in its fourth quarter 2023 investor letter:
“Banks were well represented among our top Q4 performers as the Treasury market rally drove big gains in the bank stocks. US Bancorp (USB), The PNC Financial Services Group, Inc. (NYSE:PNC) and Bank of America—the three banks we hold in the portfolio—were each among our top five contributors to return. When bank stocks sold off in Q1 due to fears of contagion following Silicon Valley Bank’s failure, we took advantage of the market dislocation by purchasing top-10 US banks USB and PNC at what were, in our view, cheap prices. USB and PNC are banks we have known for years. They are well managed and well capitalized. As large banks, they were less impacted by the turmoil that affected smaller institutions as depositors sought the safest places to store their money. The recent rebound is an example of how our approach of investing in out-of-favor businesses can lead to alpha. USB and PNC are not immune from industry-wide headwinds from higher deposit costs, pressured net interest margins and fleeing deposits. However, we did not see these banks having a similar level of risk, with respect to uninsured deposits and unrealized losses, which contributed in varying degrees to the collapses of other banks in March 2023. As investors, we cannot avoid risk. However, we are willing to take risk if we are being compensated appropriately.”
5. Arista Networks Inc (NYSE:ANET)
Number of Hedge Fund Investors: 69
Jim Cramer recently praised Arista Networks Inc (NYSE:ANET) and its Ethernet products in a program and also applauded the company CEO Jayshree Ullal. Cramer said Arista Networks Inc (NYSE:ANET) is an Nvidia partner, and while Jayshree Ullal is not as “all over the place” as Jensen Huang (NVDA CEO), she is an “amazing CEO.” Cramer said that everybody “loves” Arista Networks Inc’s (NYSE:ANET) Ethernet products and the company should get credit for it.
Barclays recently gave bullish comments about the data center switching market which it believes is poised to grow thanks to AI. The firm expects data center switching market to grow 14% in 2024 and 2025, down from prior views of 17% and 13%, respectively, as Ethernet takes a higher share from InfiniBand.
A Barclays analyst said they see “ANET as the stock to own for its networking strength.”
In April, Citi said that Arista Networks Inc (NYSE:ANET) was poised to benefit from a general increase in cloud capital expenditures by big U.S. tech firms.
Giverny Capital Asset Management stated the following regarding Arista Networks, Inc. (NYSE:ANET) in its fourth quarter 2023 investor letter:
“We did a bit of portfolio sculpting during the year, with mixed results. We trimmed Arista Networks, Inc. (NYSE:ANET) several times during the year as it soared. Those trims, a very small one in March at roughly $163 and a larger one in August at $183, don’t look smart with Arista finishing the year at $235 (and up more in January). Arista rose 94% this year. The good news is, Arista finished the year as our second largest holding, at 7.9% of the portfolio.
If you are wondering how I could sell some Arista at $163 but then hold most of it at $235, the answer is that Arista’s outstanding competitive position in Artificial Intelligence became clearer to me as the year progressed. I felt in March that Arista would earn $8 per share in a few years. I see today that it might earn $8 in 2025.
It’s possible there is AI-related froth in the Arista stock price, but also probable that Arista will continue to grow rapidly as the computing centers that process AI queries require enormous amounts of data bandwidth. I believe Arista’s routers and switches are the best tools for routing so-called hyperscale traffic. Also, its operating software allows computer giants to manage the kudzu-like growth of their data centers, lowering their total cost of operation.
The sales of both Arista and Heico reflected my desire to manage PE multiple risk. I keep learning the hard way, however, that trimming your winners generally doesn’t add value. If the valuation is beyond justification, sell the position. If the valuation is high but the business continues to dominate its niche, grow steadily and add value for customers, maybe just take a walk around the block until the urge to sell goes away.”
4. Vertiv Holdings Co (NYSE:VRT)
Number of Hedge Fund Investors: 85
Jim Cramer has been recommending Vertiv Holdings Co (NYSE:VRT) over the past several months because of its data center business-related growth catalysts. In a latest program, Cramer recommended investors to buy more Vertiv shares.
“Buy more Vertiv…I think the stock’s terrific,” Cramer said.
Vertiv Holdings Co (NYSE:VRT) shares are already up 100% so far this year. The stock jumped in April after Vertiv Holdings Co (NYSE:VRT) increased its guidance, citing AI-related data center growth. For the full-year 2024, Vertiv Holdings Co (NYSE:VRT) expects its revenue to come in the range of $7.54 billion and $7.69 billion, compared to the previous estimate of $7.52 billion to $7.66 billion.
Vertiv Holdings Co (NYSE:VRT) is a market leader in the data center power and cooling market, which has nowhere to go but up from here since companies are hungry for data center solutions as they begin to deploy AI software. During the first quarter the company saw a 60% increase in organic orders. For full-year, the company plans to increase its CapEx to $200 million, which is high, but still in the company’s CapEX margin range between 2.5% to 3%. Vertiv also upped its revenue guidance. Here’s what the management said during the latest earnings call:
“We are expecting organic sales growth of approximately 12% with Americas up mid-teens, APAC high single digits and EMEA low double digits. We anticipate an $18 million year-over-year foreign exchange headwind in the second quarter as the U.S. dollar has strengthened against most foreign currencies over the last several months. We expect second quarter adjusted operating profit between $315 million and $335 million and adjusted operating margin of 16.9%, up 240 basis points at the midpoint with expected benefits from price/cost partially offset by continued growth investments.
Based upon a favorable start to the year and visibility into a strong sales pipeline for the rest of the year, we are increasing estimates for organic sales growth from 10% at the midpoint to approximately 12% with higher expectations across all 3 regions. In addition, we are increasing the midpoint of adjusted operating profit guidance from $1.3 billion in our prior guidance to $1.35 billion primarily driven by contribution margin on incremental sales. And as a result, we are increasing midpoint guidance for adjusted operating margin to 17.7% with the primary driver there being fixed cost leverage.”
Vertiv Holdings Co (NYSE:VRT) earnings are expected to grow 35% this year, while the Wall Street expects a 28% growth next year. Based on these growth estimates, Vertiv’s forward P/E ratio of 37.45 looks attractive.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its first quarter 2024 investor letter:
“Vertiv Holdings Co (NYSE:VRT) is a global leader in the design, manufacturing and servicing of critical infrastructure for data centers and communication networks. The company is well-positioned to benefit from the acceleration in data center spending, which is being driven by the rapid growth in high-performance computing and artificial intelligence. This backdrop is resulting in both new and retrofitted data centers that require significantly more power and cooling content. Vertiv has leading positions in data center power and thermal management, as well as key relationships with both the largest semiconductor companies providing the next-generation chip technology and the hyperscaler companies that are at the forefront of deploying artificial intelligence.”
3. GE Vernova Inc (NYSE:GEV)
Number of Hedge Fund Investors: 107
Jim Cramer has recommended GE Vernova Inc (NYSE:GEV) multiple times over the past few days. Cramer is bullish on the stock amid its exposure to the nuclear power business and thinks the stock is a better nuclear stock than any other company out there.
“I keep saying to people… GE Vernova.. because they are nuclear, because they are also natural gas and they are also wind. And you want all those.”
Citi recently started covering GE Vernova Inc (NYSE:GEV) with a Neutral rating and a $183 price target. Citi sees GE Vernova Inc (NYSE:GEV) positioned well to benefit from favorable demand trends.
Wall Street analysts believe GE Vernova Inc (NYSE:GEV) is set to grow on the back of secular growth catalysts. Power demand in the US and all over the world is set to grow following a rise in population, electrification and the surge in AI data centers. The rapid rise in power demand has pushed the company’s order backlog to a whopping $116 billion, which includes backlogs from power, wind and electrification.
GE Vernova Inc (NYSE:GEV) expects about $35 billion in revenue in 2024, and $1 billion in FCF. For 2025, the company is expecting mid-single-digit revenue growth in 2025.
GE Vernova Inc (NYSE:GEV) valuation has been concerning for some. The stock is trading at a forward P/E ratio of 52.08. GE Vernova bulls believe with the company expecting margin expansion and long-term secular growth catalysts, the stock is a solid option for those who can wait.
2. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Investors: 124
A caller recently asked Jim Cramer about a stock that could be a good long-term investment in the chip manufacturing industry as an alternative to Nvidia and wondered whether it’s Intel. Cramer said “that’s AMD” not Intel.
Advanced Micro Devices, Inc. (NASDAQ:AMD) indeed has chances of becoming a competitor to NVDA in the coming months and years. Citi analyst Christopher Danely recently said Advanced Micro Devices, Inc. (NASDAQ:AMD) is using its “annual product cadence” to keep up with Nvidia. Danley has a $176 price target on Advanced Micro Devices, Inc. (NASDAQ:AMD).
Advanced Micro Devices, Inc. (NASDAQ:AMD) is also a strong player in the data center space. Advanced Micro Devices, Inc. (NASDAQ:AMD) has teased 5th Generation Epyc Gen CPUs (codename Turin) and their Instinct MI-300 series GPU accelerators. Advanced Micro Devices, Inc.’s (NASDAQ:AMD) server chips are built on Zen5 core CPU architecture.
Advanced Micro Devices, Inc. (NASDAQ:AMD)’s latest results show a spectacular increase in data center revenue, but a lackluster increase in operating income (+26%) threw water on the enthusiasm around the stock. Advanced Micro Devices, Inc. (NASDAQ:AMD) bears also say the stock’s P/E ratio of over 240 is amongst the highest in the chips industry. Surprisingly, Advanced Micro Devices, Inc.’s (NASDAQ:AMD) forward P/E ratio is about two times higher than Nvidia’s.
Average analyst estimate for Advanced Micro Devices, Inc. (NASDAQ:AMD) is $187.2, which presents an upside potential of 17%. Wall Street analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD)to grow 32.50% this year and 59% next year. For the next five years the growth will then moderate to 32% on a per-annum basis, which is still high. Based on Advanced Micro Devices, Inc.’s (NASDAQ:AMD) 2025 EPS forecast, the stock is trading at around 28.6X forward P/E ratio, which isn’t high given Advanced Micro Devices, Inc.’s (NASDAQ:AMD) growth trajectory and catalysts.
Meridian Contrarian Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth quarter 2023 investor letter:
“Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor chip maker specializing in central processing units (CPUs), which are considered the core component of most computing devices, and graphics processing units (GPUs), which accelerate operations running on CPUs. We invested in 2018 when it was a mid-cap value stock plagued by many years of underperformance due to lagging technology and lost market hi share versus competitors Intel and Nvidia. Our research identified that changes and investments made by current management under CEO Lisa Su had, over several years, finally resulted in compelling technology that positioned AMD as a stronger competitor to Nvidia and that its latest products were superior to Intel’s. We invested on the the belief that AMD’s valuation at that that time did not reflect the potential for its technology leadership to generate significant market share gains and improved profits. This thesis has been playing out for several years. During the quarter, AMD unveiled more details about its upcoming GPU products for the AI market. The stock reacted positively to expectations that AMD’s GPU servers will be a viable alternative to Nvidia. Although we pared back our exposure to AMD into strength as part of our risk-management practice, we maintained a position in the stock. We believe AMD will continue to gain share in large and growing markets and is reasonably valued relative to the potential for significantly higher earnings.”
1. Amazon.com Inc (NASDAQ:AMZN)
Number of Hedge Fund Investors: 302
In a recent program, Jim Cramer said that he thinks Amazon.com Inc (NASDAQ:AMZN) has a “lot of room to go higher.” Cramer is bullish on Amazon.com Inc’s (NASDAQ:AMZN) advertising business. He also praised the company’s AWS business and said Amazon.com Inc (NASDAQ:AMZN) is “back with a great growth number.”
AWS is indeed growing rapidly. AWS operating margins crossed 37% during the first quarter. AWS operating margins have now came in more than 30% for the past five straight quarters. Amazon.com Inc’s (NASDAQ:AMZN) revenue in the first quarter jumped 12.5% YoY and its adjusted EPS more than tripled. Revenue in North America and International segments grew as well. Analysts believe digital ads is another strong revenue stream for Amazon.com Inc (NASDAQ:AMZN), with revenue from the segment increasing 24% YoY to $11.8 billion in the first quarter.
Baron Fifth Avenue Growth Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its first quarter 2024 investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services provider. Shares increased 18.7% on quarterly results that exceeded consensus expectations, with revenue growth of 13% year-over-year and operating margins of 7.8% (up from 1.8% a year ago). We believe that Amazon is well positioned in the short to medium term to continue improving its core North American margins, which have reached 6.1% in the fourth quarter, the seventh straight quarter of margin improvement and an overall improvement of 800bps. Amazon has been rearchitecting its fulfillment network, improving efficiency, reducing cost-to-serve and accelerating delivery speeds thanks to initiatives such as regionalization, with the number of items delivered during the same day or overnight increasing by nearly 70% year-over-year. Reducing the cost to serve also enables Amazon to sell lower priced items and expand its addressable market to everyday purchases. Additionally, Amazon continues to benefit from its fast-growing, margin-accretive advertising business winning market share in digital advertising thanks to its structural advantages of a closed loop system, which enables a deterministic calculation of Return on Ad Spending. We also believe that e-commerce still has long duration growth ahead as it still accounts for less than 15% of retail. Similarly, Amazon’s cloud service, AWS, remains relatively early in its S-curve with cloud representing around 13% of worldwide IT spending13 incremental tailwinds across the three layers of the GenAI stack – infrastructure with NVIDIA’s own AI chips (Trainium and Inferentia) as well as with its offering of NVIDIA chips, platform (Bedrock), and applications (first and third party).”
While we acknowledge the potential of Amazon.com Inc (NASDAQ:AMZN) as an investment, our conviction lies in the belief that some smaller, under-the-radar 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 AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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