Jim Cramer Recently Discussed These 13 Stocks Interest Rates And Recession

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

Number of Hedge Fund Holders In Q3 2024: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a CPU and GPU designer whose shares haven’t seen much love from Wall Street lately. The stock has gained a modest 2.3% year-to-date as it has been held down by analyst worries about sustainable growth in the PC market and NVIDIA’s dominance in the AI GPU market. On the day Cramer’s remarks for Advanced Micro Devices, Inc. (NASDAQ:AMD) were aired, Goldman Sachs had downgraded the stock to Neutral from Buy and cut the share price target to $175 from $129. Here’s what Cramer said about the Goldman coverage:

“Really, really good one. And really has a lot, why ranging both on capital equipment and the regulars, to semis. ‘But we reduce our 2025/2026 revenue for AMD by ten to eleven percent.’ You know, you can’t own a semiconductor stock when they cut.

“Now a lot of that is because they really have not been able to accelerate what they’re doing in the data center.

“We sold AMD for my charitable trust a little while ago because I don’t want to be in a situation where I’m hostage to CPUs.”

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