Jim Cramer’s Bold Predictions About These 15 AI Stocks

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

Number of Hedge Fund Holders In Q3 2024: 107

Date of Cramer’s Comments: 08-12-24

Performance Since Then: -8.43%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is the only company in the world with a sizable presence in the x86 CPU and GPU markets. In both of these markets, the firm is the second biggest player. Its presence in the CPU industry has helped Advanced Micro Devices, Inc. (NASDAQ:AMD) eke out market share following chip giant Intel’s historic struggles with manufacturing the latest chips. Advanced Micro Devices, Inc. (NASDAQ:AMD)’s acquisitions over the past couple of years have provided it with a footing in tertiary industries such as FPGAs and AI products. While its AI accelerators are also somewhat popular, sentiment has soured in the year’s second half. Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares are down by 9.6% year-to-date; but, Cramer was optimistic in August:

“AMD isn’t nipping at their heels. AMD is dominating. It’s actually taking gobs of market share, and galy 3 is not a factor when it comes to Nvidia’s high-end chips.”

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