In this article, we’ll explore Jim Cramer’s 10 Best Stocks to Buy After Fed Rate Cut.
In a recent episode of Mad Money, Jim Cramer observes that many on Wall Street enjoy going against the crowd, which is why some analysts downplay the significance of a half-point rate cut. He disagrees, asserting that common sense often gets overlooked by those who think they know better.
“Everybody on Wall Street loves to be a contrarian, which is why so many commentators keep trying to minimize the impact of a half-point rate cut. Not me! No matter what, common sense dictates that there are always people who think they know better than common sense, and they don’t. There are so few advantages to age, I have to tell you.”
Market Roars Back: Bears Get Played as Dow Surges 522 Points Amid Rate Cut Frenzy!
Jim Cramer points out the irony that, despite critics spreading negativity, the stock market soared today, with the Dow jumping 522 points, the S&P rising 1.7%, and the NASDAQ climbing 2.5%. He found it remarkable. Initially, bearish sentiment swayed the markets right after the announcement yesterday, causing many to panic and sell, particularly in tech stocks, which often face unwarranted hits from rate cuts.
Critics fueled this panic, echoing a negative narrative without questioning it, which led to a rush for the exits. Cramer emphasizes that this reaction to a rate cut, rather than a hike, creates a misleading panic, demonstrating how easily people can be misled into thinking a 50 basis point easing is bad news, which he believes is simply foolish.
“Funny thing: while these critics were polluting your minds, the stock market exploded today, with the Dow gaining 522 points, the S&P surging 1.7%, and the NASDAQ pole vaulting 2.5%. I’ve got to tell you, it was a thing of beauty. The Bears initially had their way with the markets, distorting a view immediately after the announcement at 2 p.m. yesterday. They fooled enough people to start blowing out of stocks in their frenzy, especially tech stocks, as if those are the ones that always get hit on a rate cut.
That’s just not true. There were also people who panicked, thinking the Fed was panicking. Commentator after commentator came on air, echoing this negative narrative out of nowhere. After all, who wants to go against the tide and question why sellers are streaming for the exits? You don’t want to be in the way of that. That’s how the aftermath of a rate cut—not a hike, but a cut—snowballs into a giant avalanche of people who have been instantly brainwashed into thinking that a 50 basis point easing is somehow bad news. That’s what we saw yesterday after 2:00. That analysis was absurd, just pure foolishness.”
50 Basis Point Cut Boosts Stocks and Housing
Jim Cramer notes that during a period of rate cuts, the potential winners are diverse and promising, while the losers are clear and should be avoided. He highlights that once the Wall Street Journal announced the possibility of a 50 basis point cut, the range of stocks that could benefit significantly widened. A smaller 25 basis point cut would have helped homebuilders if they increased construction, but they’ve been hesitant due to still-high rates. However, a 50 basis point cut will lead to lower mortgage rates, making homes more affordable and likely boosting the housing market.
“The winners in an easing cycle are varied and exciting, while the losers are obvious and must be avoided. From the moment the Journal reported that there could be a 50 basis point cut, the swatch of what can go higher expanded dogmatically. A 25-point cut would have been truly beneficial for homebuilders if they would just start building a lot more homes, that’s something they’ve been reluctant to do because rates are still too high. But a 50 basis point cut means lower mortgages for certain and, therefore, more affordable homes.”
Our Methodology:
In this article, we review the latest episode of Jim Cramer’s Mad Money where he discussed several stocks. We have ranked the companies according to their popularity among hedge funds, starting with the least owned and progressing to the most owned.
At Insider Monkey we are obsessed with 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).
Jim Cramer’s 10 Best Stocks to Buy After Fed Rate Cut
10. Textron Inc. (NYSE:TXT)
Number of Hedge Fund Investors: 26
Jim Cramer recommends Textron Inc. (NYSE:TXT) as a strong investment option. The diversified industrial company, with businesses in cars, defense, and airplanes, has been performing well. While its success depends on the overall economy, the recent lower interest rates could be good for Textron Inc. (NYSE:TXT)y.
“Seventh best performer in the Fed’s star season: Textron. It’s an intriguing industrial; they’ve got autos, defense, and business jets, think Cessna. I think it could work now that the Fed is cutting rates, but keep in mind Textron will get clobbered if the economy is truly in much worse shape than we think.”
Textron Inc. (NYSE:TXT) has a strong outlook, supported by impressive performance in Q2 2024, with revenues of around $3.3 billion driven by increased demand in both the Aviation and Defense segments. This revenue growth is matched by a significant rise in net income, highlighting Textron Inc. (NYSE:TXT)’s operational efficiency and effective cost management.
Textron Inc. (NYSE:TXT)’s diverse portfolio, spanning aircraft manufacturing, defense systems, and industrial products—helps reduce risks and allows the company to seize various market opportunities, positioning it well for long-term growth. The Aviation segment is particularly promising, benefiting from rising demand for business jets and rotorcraft as travel recovers, with new aircraft launches expected to attract more customers.
Additionally, Textron Inc. (NYSE:TXT) has secured multiple defense contracts, enhancing its standing in a sector that is seeing increased government spending. Textron Inc. (NYSE:TXT)’s commitment to innovation is clear in its investments in research and development, focusing on advanced technologies for aviation and defense.
9. Sofi Technologies Inc. (NASDAQ:SOFI)
Number of Hedge Fund Investors: 29
Jim Cramer believes that Sofi Technologies Inc. (NASDAQ:SOFI), a financial technology company, will likely outperform as interest rates decline. He views Sofi Technologies Inc. (NASDAQ:SOFI) as more of a technology stock and expects its value to increase.
“I think now that rates are coming down, you’re going to see that Sofi Technologies is more of a technology stock, and it’s going to go higher.”
Sofi Technologies Inc. (NASDAQ:SOFI) has impressive user growth, with membership surpassing 5.5 million in Q2 2024. This increase shows a growing demand for Sofi Technologies Inc. (NASDAQ:SOFI) financial products. Sofi Technologies Inc. (NASDAQ:SOFI) benefits from diverse revenue sources, such as student and personal loans, investing, and banking services, which help it remain stable during economic changes and reach different market segments.
In Q2 2024, Sofi Technologies Inc. (NASDAQ:SOFI) achieved a significant 30% increase in revenue compared to the previous year, driven by higher loan originations and a boost in financial services revenue. Sofi Technologies Inc. (NASDAQ:SOFI) also reported positive EBITDA, indicating better operational efficiency. Sofi Technologies Inc. (NASDAQ:SOFI)has built positive market perception through strategic partnerships and new product launches, including an expanded investing platform and additional banking features, demonstrating its commitment to innovation.
8. Expeditors International of Washington (NASDAQ:EXPD)
Number of Hedge Fund Investors: 39
Jim Cramer suggests that Expeditors International of Washington (NASDAQ:EXPD), a logistics company, maybe a more affordable alternative to FedEx Corporation (NYSE:FDX). He expects its stock price to benefit from the recent decline in FedEx Corporation (NYSE:FDX)’s value, which was caused by disappointing earnings and a lowered forecast for the fiscal year.
“Expeditors International of Washington. Now, this is a pure logistics play, but in my opinion, it’s a poor man’s FedEx, and it will trade off because FedEx tonight is tumbling in after-hours trading after reporting a bad miss and cutting its fiscal year forecast. Bummer.”
Expeditors International of Washington (NASDAQ:EXPD) is backed by impressive financial performance. In Q2 2024, Expeditors International of Washington (NASDAQ:EXPD) reported around $2.4 billion in revenue, showing significant year-over-year growth and a strong operating margin that reflects effective cost management.
Expeditors International of Washington (NASDAQ:EXPD) diverse services, including air and ocean freight, customs brokerage, and warehousing, allow it to cater to various customer needs and adapt to changing market conditions. As global supply chains recover after the pandemic, Expeditors International of Washington (NASDAQ:EXPD) is well-positioned to benefit from rising shipping volumes, especially in e-commerce and healthcare.
Expeditors International of Washington (NASDAQ:EXPD) is also investing in technology to improve operational efficiency and customer experience, focusing on innovations that streamline logistics processes. With solid relationships with carriers and customers, Expeditors International of Washington (NASDAQ:EXPD) can secure favorable rates and contracts, supporting its profitability.
7. The Kroger Co. (NYSE:KR)
Number of Hedge Fund Investors: 46
Jim Cramer praises The Kroger Co. (NYSE:KR) for its efficient operations, despite facing regulatory challenges with the proposed merger with Albertsons. While The Kroger Co. (NYSE:KR) recently reported a strong quarter, the ongoing uncertainty surrounding the merger may be putting pressure on its stock price. Despite this, Cramer remains optimistic about The Kroger Co. (NYSE:KR)’s prospects.
“Then there’s Kroger. I’ve been amazed at their ability to run a tight ship, even while fighting with the FTC to get the Albertsons merger done. Last week, Kroger reported a real good quarter, but with Albertsons still languishing, I think it puts a little pressure on the stock. That’s unfortunate because I like it very much.”
The Kroger Co. (NYSE:KR) continues to demonstrate strong financial health, with Q2 2024 revenue reaching approximately $35 billion. This growth, driven by increased grocery sales and expanded digital offerings, underscores the company’s ability to adapt to changing consumer preferences. Kroger’s effective cost management has also contributed to a positive net income, further solidifying its position as a leading grocery retailer.
The Kroger Co. (NYSE:KR) is actively transforming its digital presence, investing heavily in e-commerce and delivery services, which has led to a significant rise in online sales and strengthened Kroger’s position in the competitive grocery market. Additionally, expanding private label brands helps The Kroger Co. (NYSE:KR) stand out from competitors and appeal to cost-conscious consumers, resulting in higher profit margins.
The Kroger Co. (NYSE:KR)’s focus on health and wellness products aligns with the growing consumer demand for healthier options, with initiatives like nutrition counseling fostering customer loyalty. Strategic partnerships, such as the collaboration with Ocado for automated grocery fulfillment, enhance efficiency and cater to the demand for convenience.
6. Toll Brothers Inc. (NYSE:TOL)
Number of Hedge Fund Investors: 46
Jim Cramer expresses his admiration for Toll Brothers Inc. (NYSE:TOL) when a viewer called to ask about his opinion about the homebuilder. He recently interviewed Toll Brothers Inc. (NYSE:TOL)’s CEO, Doug Yearly, and believes they are performing well. However, given the negative market reaction to Lennar’s recent earnings report, Cramer anticipates that Toll Brothers Inc. (NYSE:TOL)’ stock may also experience a decline. He plans to closely monitor the extent of the drop before making any investment decisions.
“Okay, I hear you. Look, I like Toll, and everybody knows I like Toll. I interviewed Doug Yearly not that long ago, maybe a week ago, and I think they’re doing well. But Lennar reported tonight, and people don’t like Lennar, so Toll will probably be down. We’ll have to take a hard look at how low it goes, but I do like Toll and I like it more than Lennar.”
Toll Brothers Inc. (NYSE:TOL) is experiencing a period of sustained growth, with Q2 2024 revenue reaching approximately $2 billion. This impressive performance reflects strong demand for luxury homes and the company’s ability to capitalize on favorable market conditions. Toll Brothers’ improved gross margins demonstrate effective cost management and pricing power, further enhancing its profitability.
The luxury housing market remains strong, and Toll Brothers Inc. (NYSE:TOL) is a leading builder in this segment, benefiting from rising consumer interest in premium homes linked to lifestyle changes and low inventory levels. Its geographic diversification across various U.S. markets helps mitigate risks and allows Toll Brothers Inc. (NYSE:TOL) to take advantage of regional trends. A strong backlog of homes under contract signals future revenue potential and reflects consumer confidence.
Toll Brothers Inc. (NYSE:TOL) is also committed to sustainability, focusing on energy-efficient building practices that appeal to environmentally conscious buyers, enhancing its competitive edge. Recent announcements include expanding product lines to offer more customizable home options and exploring new communities for active adult living, targeting the growing demographic of older buyers seeking luxury homes.
Baron Real Estate Fund stated the following regarding Toll Brothers, Inc. (NYSE:TOL) in its Q2 2024 investor letter:
“We trimmed our position in Toll Brothers, Inc. (NYSE:TOL), America’s leading luxury homebuilder, during the second quarter following exceptionally strong share price appreciation over the last year and the Fund’s resulting large position size. Toll Brothers remains the largest position in the Fund, and we continue to be enthusiastic about the company’s long-term prospects.
Our meetings with CEO Doug Yearley and other key members of the company’s management confirm our view that the long-term prospects remain compelling. We believe Toll Brothers has the ability to grow its community count of homes by approximately 10% per year as the company continues to gain market share against its mostly smaller private competitors who lack scale advantages, brand awareness, and access to attractively priced financing.
Further, Toll Brothers has a long runway for multi-decade growth as it targets the fastest growing income demographic in the U.S. – 16 million households with annual incomes of at least $200,000. According to the U.S. Census Bureau (September 2023), households with over $200,000 in annual income have grown approximately 10 times faster than all U.S. households in the last 10 years. Currently, Toll Brothers has captured only 0.06% of this important demographic group. For additional reasons we remain optimistic on our investment in Toll Brothers, please see the “Top contributors” section of our first quarter 2024 shareholder letter.”
5. Target Corporation (NYSE:TGT)
Number of Hedge Fund Investors: 52
Jim Cramer believes Target Corporation (NYSE:TGT) is a compelling investment opportunity, particularly as interest rates decline. He highlights Target Corporation (NYSE:TGT)’s successful turnaround, which culminated in its recent positive same-store sales growth driven by increased customer traffic rather than higher prices.
“Finally, there’s Target. This makes a ton of sense to me, of course, as Target wins when the Fed starts easing. On top of that, it has a terrific turnaround story. The company just reported its first positive same-store sales growth since 2022, driven by higher traffic, not higher prices.”
Target Corporation (NYSE:TGT) continues to demonstrate strong financial performance, with Q2 2024 revenue reaching approximately $25 billion. This year-over-year increase, driven by robust sales across both in-store and online channels, underscores the company’s ability to meet evolving consumer needs. Target’s higher net income reflects effective inventory management and cost control, further solidifying its position as a leading retailer.
Target Corporation (NYSE:TGT) has made significant improvements in e-commerce, with online sales growing notably, thanks to investments in same-day delivery services like Shipt and Drive Up, enhancing its competitiveness against major retailers such as Amazon. Its diverse product range—covering groceries, home goods, and apparel—appeals to a wide customer base, while strong private label brands help improve profit margins and foster loyalty.
Additionally, Target Corporation (NYSE:TGT)’s innovative store formats, including smaller urban locations designed for specific customer needs, enhance accessibility and boost foot traffic. Target Corporation (NYSE:TGT) is also committed to sustainability initiatives, such as reducing plastic waste and responsible sourcing, which resonate with environmentally conscious shoppers and strengthen brand loyalty.
Carillon Eagle Growth & Income Fund stated the following regarding Target Corporation (NYSE:TGT) in its Q2 2024 investor letter:
“Target Corporation’s (NYSE:TGT) sales continue to feel the consumer softness in discretionary goods. In addition, while margins are recovering, they are not up to expectations. Encouragingly, sales are sequentially increasing and comparable sales are expected to get easier as Target enters the back half of the year.”
4. Western Digital Corporation (NASDAQ:WDC)
Number of Hedge Fund Investors: 80
Jim Cramer notes that Western Digital Corporation (NASDAQ:WDC)’s stock has historically outperformed in the three months following the first interest rate cut. However, he cautions that Western Digital Corporation (NASDAQ:WDC), a manufacturer of hard drives and solid-state drives, has often been considered a value trap.
“Western Digital is up over 20% on average in the three months following the first rate cut. This maker of hard drives and solid-state drives, basically storage for your phone or PC, has historically been a giant value trap. Right now, we’re seeing an uptick in demand for storage as part of the AI data center theme.”
Western Digital Corporation (NASDAQ:WDC) is poised for continued growth, driven by the increasing demand for storage solutions in response to the rapid expansion of data generation, cloud computing, and AI applications. As data centers expand and more devices require storage, Western Digital is well-positioned to capitalize on these market trends and gain market share.
In its Q2 2024 earnings report, Western Digital Corporation (NASDAQ:WDC) reported about $4.5 billion in revenue, showing significant year-over-year growth. Improved gross margins resulted from effective cost management and increased demand for higher-margin products like SSDs. Western Digital Corporation (NASDAQ:WDC)’s commitment to innovation is clear in its substantial investments in research and development, leading to advancements in flash storage technology and new next-generation SSDs that meet industry demands for faster, more efficient solutions.
Strategic partnerships with major cloud service providers are expected to boost revenue and secure long-term contracts, enhancing financial stability. Additionally, Western Digital Corporation (NASDAQ:WDC) maintains a strong balance sheet with manageable debt and ample liquidity, allowing it to handle market fluctuations effectively. Recent plans to improve manufacturing capabilities, especially in 3D NAND technology, along with sustainability initiatives, may also appeal to environmentally-conscious investors.
Parnassus Mid Cap Fund stated the following regarding Western Digital Corporation (NASDAQ:WDC) in its Q2 2024 investor letter:
“We re-initiated a position in Western Digital Corporation (NASDAQ:WDC), a manufacturer of memory semiconductor chips and hard disk drives, as we believe earnings expectations are far too low. Semiconductors have been another of our most-alpha-generative industries, thanks to the industry’s secular tailwinds and our in-house expertise. Western Digital stands to benefit from the rapid growth of memory-hungry AI applications. The valuation for Western Digital was low relative to its peers, giving us a way to participate in AI at a reasonable valuation.”
3. Lam Research Corporation (NASDAQ:LRCX)
Number of Hedge Fund Investors: 84
Jim Cramer highlights Lam Research Corporation (NASDAQ:LRCX) as a leading semiconductor capital equipment manufacturer. He notes that Lam Research Corporation (NASDAQ:LRCX)’s current performance is being hindered by a decline in Chinese orders and Intel’s reduced manufacturing plans in Europe. Despite these challenges, Cramer believes Lam Research Corporation (NASDAQ:LRCX) is a strong investment opportunity. However, he suggests waiting for the stock price to decline further, given the broader industry issues.
“Lam Research is a key semiconductor capital equipment maker. Right now, they’re being suppressed by a lack of Chinese orders, not to mention Intel slowing its European manufacturing plans, in order to preserve its balance sheet. If not for those issues, I think it’d be a great buy right now. But given that the industry has problems, I say let it come in even more. However, Lam is the best in the group.”
Lam Research Corporation (NASDAQ:LRCX) has a strong outlook driven by high demand for semiconductor manufacturing, largely due to the growing need for chips in automotive, AI, consumer electronics, and the expansion of 5G networks and IoT devices. In Q2 2024, Lam Research Corporation (NASDAQ:LRCX) reported about $3.8 billion in revenue, showing year-over-year growth supported by strong orders and increased shipments of etch and deposition equipment, alongside impressive gross margins indicating effective operations.
Lam Research Corporation (NASDAQ:LRCX) stays at the forefront of technology with ongoing innovations, especially in atomic layer deposition (ALD) and other advanced processes that meet chip manufacturers’ evolving needs. Lam Research Corporation (NASDAQ:LRCX) also has a solid backlog of orders from major semiconductor companies, indicating sustained demand for its products. Lam Research Corporation (NASDAQ:LRCX) strategic expansion into key Asian markets aligns with the region’s growing semiconductor industry, enhancing long-term growth prospects.
Artisan Select Equity Fund stated the following regarding Lam Research Corporation (NASDAQ:LRCX) in its Q2 2024 investor letter:
“The top contributors to performance for the quarter were Alphabet, Lam Research Corporation (NASDAQ:LRCX) and Elevance. Lam Research shares rose 10% during the quarter and are up 67% over the past year, primarily due to optimism around the pending investment cycle in semiconductor capital expenditures. Lam is one of the largest equipment manufacturers used to make semiconductor chips.
This equipment, commonly referred to as WFE (wafer fabrication equipment), is expected to experience significant growth due to a combination of a cyclical rebound in memory chips and growing demand for new AI-related chips. Lam’s product portfolio is particularly well positioned to benefit from both trends and should grow even faster than the overall market. Its shares now trade at ~30X prior peak earnings, which suggests this dynamic is well understood by the market and is mostly priced in.”
2. UnitedHealth Group Inc. (NYSE:UNH)
Number of Hedge Fund Investors: 114
Jim Cramer observes that UnitedHealth Group Inc. (NYSE:UNH), a healthcare company, has historically performed well during periods of interest rate cuts. Despite its potential to be affected by economic downturns, UnitedHealth Group Inc. (NYSE:UNH) has demonstrated strong operational excellence and has outperformed its competitors in the managed care industry.
“United Health is an unusual rate cut winner. In theory, it should be more of a slowdown stock, but empirically, it’s done very well when the Fed starts cutting rates. UNH is a terrific operator that’s been pulling away from the rest of the managed care space, but I wouldn’t recommend buying it right here unless you think the Fed’s desperately cutting rates because the economy is falling apart. Then you buy UNH. I don’t see that happening.”
UnitedHealth Group Inc. (NYSE:UNH) continues to demonstrate strong financial performance, with Q2 2024 total revenue reaching approximately $92 billion. This growth, driven primarily by its UnitedHealthcare and Optum segments, underscores the company’s ability to capitalize on favorable market conditions. UnitedHealth’s diversified business model, encompassing health insurance, data analytics, and pharmacy care services, provides a strong foundation for sustainable growth.
UnitedHealth Group Inc. (NYSE:UNH)’s focus on innovative healthcare solutions is clear in its investments in technology, particularly in telehealth and digital health, which enhance patient outcomes and lower costs. The growing membership base, especially in government programs like Medicare Advantage, is expected to drive future growth as the population ages.
Invesco Growth and Income Fund stated the following regarding UnitedHealth Group Incorporated (NYSE:UNH) in its Q2 2024 investor letter:
“UnitedHealth Group Incorporated (NYSE:UNH): Like many managed care providers, United Health has come under pressure from rising medical costs and higher-than-expected utilization. The stock is currently undervalued based on our analysis. We view the company as a high-quality compounder with secular growth opportunities in the managed care segment. The US Presidential election may cause additional near-term uncertainty, but we believe United Health will be able to rebound once pricing and utilization issues normalize.”
1. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Investors: 184
Jim Cramer remains a staunch advocate for Apple Inc. (NASDAQ:AAPL), suggesting that investors should hold the stock for the long term rather than engage in frequent trading. This recommendation is further solidified by recent comments from T-Mobile (NASDAQ:TMUS)’s CEO, who confirmed strong sales of the new iPhone model. Contrary to the bearish sentiment expressed by some analysts, the CEO indicated that sales have exceeded expectations, even surpassing those of the previous year.
“A Cramer favorite: Apple. I always say to own it, don’t trade it, and I’m even more adamant about that position after what we heard from T-Mobile’s CEO yesterday. Contrary to what the bears have been telling you, he says sales of the new iPhone are going great.”
Apple Inc. (NASDAQ:AAPL) continues to demonstrate exceptional financial performance, with Q2 2024 revenue reaching approximately $94 billion. This significant year-over-year growth, driven by robust iPhone sales and the company’s expanding services segment, solidifies Apple’s position as a global technology leader.
Apple Inc. (NASDAQ:AAPL)’s diverse ecosystem, which includes hardware, software, and services, continues to thrive. The services segment—covering Apple Inc. (NASDAQ:AAPL) Music, iCloud, and the App Store—shows consistent growth and significantly contributes to overall revenue. Upcoming product launches, such as the iPhone 15 and advancements in AR/VR technology, are expected to maintain consumer interest and boost future sales, reinforcing Apple Inc. (NASDAQ:AAPL)’s commitment to innovation.
Additionally, strong brand loyalty fosters recurring revenue as customers tend to stick with Apple Inc. (NASDAQ:AAPL)’s products, enhancing customer lifetime value. Apple Inc. (NASDAQ:AAPL) is also expanding into emerging markets and increasing its focus on health technology, potentially creating new revenue streams.
While we acknowledge the potential of Apple Inc. (NASDAQ:AAPL), 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 timeframe. If you are looking for an AI stock that is more promising than the ones on our list but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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