Jim Cramer’s Bold Predictions About These 9 Semiconductor Stocks

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

Number of Hedge Fund Holders In Q3 2024: 107

Date of Cramer’s Comments: 8-21-24

Performance Since Then: -20.64%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor designer that designs and sells CPUs, GPUs, custom chips, and other products. It enjoys a unique position in the market courtesy of being able to compete with Intel in the CPU market and NVIDIA in the GPU market. As a result, any firm-specific weakness from either means that Advanced Micro Devices, Inc. (NASDAQ:AMD) can eke out market share for itself. Its shares haven’t done well in the fourth quarter primarily due to Advanced Micro Devices, Inc. (NASDAQ:AMD)’s inability to wrest market share away from NVIDIA and analyst concerns of a slower PC market in 2025. The stock fell by 10.6% in October after the firm’s Q4 guidance of $7 billion missed analyst forecasts of $7.54 billion. Here’s what Cramer said in August:

“I think you can buy more. AMD has been on a steady upward trend this week, and Lisa Su made a great acquisition. Her products, especially for accelerated computing, are terrific. Yes, for AI and generative AI, they are outstanding. Buy more AMD, just as we’ve been doing for the club.

“Listen, guys, it’s driving me crazy—not everything you hear is consequential. There’s a lot of noise; there are a lot of data points that don’t mean anything. Sometimes, companies just have their consumers’ backs, and that’s where the business goes. The economy is fine, and that’s all that matters.”