We recently published a list of Jim Cramer’s December Portfolio: Top 10 Stocks to Watch. In this article, we are going to take a look at where BlackRock Inc (NYSE:BLK) stands against other stocks to watch in Jim Cramer’s December portfolio.
Jim Cramer in a latest program on CNBC talked about the evolution of AI and how the technology has come from being ignored as “hype” to now completely changing everyday lives for many. Cramer mentioned the AI solutions offered by Marc Benioff’s company and said the technology is actually exceeding expectations “dramatically.” [read Marc Benioff’s latest comments here]
Cramer mentioned the comments of Benioff on his company’s new AI-powered solutions:
“Suddenly, though, we have Agent Force, and with it, Marc said, I quote, “We’re unleashing this new year of digital labor force for every business and every industry.” He went on to say, quote, “The implications are just simply profound. Now people ridicule me for saying how much we need AI, but Marc says, quote, ‘For decades, economic growth depended on expanding the human workforce. It was all about getting more labor,’ end quote. Not anymore—not with agents powered by AI who, as you’re stating, can work faster, doing tedious things but essential jobs that nobody wants.
And there it is—you hear that Marc got 200 deals in the first week of Agent Force alone, lots of brand-name companies too. Do you know there are thousands more in the pipeline? Real customers, real money, tangible. That’s an insane amount of business to do,” Cramer said.
READ ALSO: Jim Cramer’s Latest Lightning Round: 11 Stocks to Watch and Jim Cramer on AMD and Other Stocks
For this article, we watched some latest programs of Jim Cramer and picked 10 stocks he was talking about. 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).
A professional asset manager making an investment decision at their office.
BlackRock Inc (NYSE:BLK)
A caller recently asked Jim Cramer about BlackRock Inc (NYSE:BLK). Cramer reiterated that he is still bullish on BlackRock Inc (NYSE:BLK) for the long term.
“I look at the long term with this, and the reason I was happy to buy it here is because I don’t care about the near term on this stock. I think if you buy something that Larry Fink (BlackRock CEO) is running and you wait, you just own it over many years. Not everything can be, you know, like a pasta in the trust. Not everything’s going to go up at once. Some things are just going to be very solid for when things go down—you can buy more of it. And that’s BlackRock.”
In another program last month, Cramer said the following about BLK:
“I’ve got to tell you Northern Trust is very good but I’ll tell you one that we’ve been buying for the travel trust, which is BlackRock, and I think it’s better. I think it’s got better growth and more consistent management.”
Overall, BLK ranks 7th on our list of stocks to watch in Jim Cramer’s December portfolio. While we acknowledge the potential of BLK, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BLK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
