Jim Cramer’s 10 Stock Picks You Shouldn’t Miss

4. Advanced Micro Devices Inc. (NASDAQ:AMD)

Number of Hedge Fund Investors: 108

Jim Cramer views Advanced Micro Devices Inc. (NASDAQ:AMD) as a strong contender, second only to Nvidia in the semiconductor sector. However, he points out that Advanced Micro Devices Inc. (NASDAQ:AMD) is currently facing significant challenges, with its stock down considerably. Despite this, there is a high demand for high-bandwidth memory, which could benefit Advanced Micro Devices Inc. (NASDAQ:AMD) in the long run.

“I like AMD—it’s a worthy second to Nvidia, but it’s not going to be easy. The stock is facing really tough sledding here. AMD’s down a great deal, and there’s plenty of need for high-bandwidth memory.”

Advanced Micro Devices Inc. (NASDAQ:AMD)’s recent releases, such as the Ryzen 7000 series processors and Radeon RX 7000 series graphics cards, have been well-received and are expected to boost sales. Advanced Micro Devices Inc. (NASDAQ:AMD) is also gaining market share in both CPUs and GPUs, particularly in gaming and data centers, as noted by Jon Peddie Research. Advanced Micro Devices Inc. (NASDAQ:AMD)’s advancements, including 3D V-Cache technology and the use of cutting-edge 7nm and 5nm manufacturing processes, further enhance its competitive position.

Moreover, Advanced Micro Devices Inc. (NASDAQ:AMD)’s strategic partnerships with major tech firms like Microsoft and Sony, for products like the Xbox Series X and PlayStation 5, strengthen its market presence and revenue potential. Its data center solutions are also being increasingly adopted by leading cloud service providers, such as Amazon Web Services and Microsoft Azure. Financially, Advanced Micro Devices Inc. (NASDAQ:AMD) has shown significant progress, with Q2 2024 revenues reaching $5.8 billion, marking a 15% increase from the previous year.