Jim Cramer is Talking About These 10 Stocks

4. Advanced Micro Devices Inc (NASDAQ:AMD)

Number of Hedge Fund Investors: 107

Earlier in December, someone asked Jim Cramer in a program on CNBC about his thoughts on Advanced Micro Devices Inc (NASDAQ:AMD). The questioner said he is worried about Advanced Micro Devices Inc (NASDAQ:AMD) and the stock’s underperformance. Here is what Cramer said:

“This is very difficult, and you’re absolutely right to bring it up, and I’m glad you did. Here’s the problem. It is absolutely true—it is absolutely true that they’re not doing as well as Nvidia. It is true that they do not have the big Amazon orders that I’ve been looking at. But can we just remember that Lisa Su has built an amazing company, taking a lot of share from Intel? She got the number two when it comes to the data center, when it comes to AI, and come on, she just did the great deal where she got all these engineers to come in.

I think the stock is actually cheap, and it should be bought, and we are buying for the charitable trust. And I wish I had bought some yesterday in the weakness”.

Columbia Threadneedle Global Technology Growth Strategy stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2024 investor letter:

“Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) lagged the market after the company reported earnings results that, while generally strong, left the market wanting more. The company reported AI revenue of ~$600 million and increased its forward-looking outlook for AI revenue growth, but shares took a breather, as results missed elevated expectations after the stock’s strong performance. Despite the stock’s underperformance during the quarter, the company’s AI story remains very much intact. The growth outlook for the company is supported by better cloud demand, enterprise recovery and continued share gains ahead of the company’s new AI product launch.”