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: 10-04-24

Performance Since Then: -32.15%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a CPU and GPU designer that has struggled lately. Over the year, its shares have lost 30% and they have shed 32% since Cramer’s comments. Advanced Micro Devices, Inc. (NASDAQ:AMD) has struggled because it has failed to compete with NVIDIA in the AI GPU market and analysts have soured on the prospects of the PC market this year. Additionally, the firm was believed to stand to benefit from AI PC demand, and as that hasn’t materialized, the shares have lost more value. Here’s what Cramer said:

“Not to be outdone, Lisa Su, the CEO of AMD, will hold an analyst day and it’s entitled Advancing AI 2024. It starts at noon. Today, when the stock was plummeting, I told investing club members at my 10:20 morning meeting that Su’s presentation could show this charitable trust holding in a whole new light, even as they’ve been raising their AI sales forecast quarter after quarter after quarter. I think it’s a buy ahead of the meeting, although the stock did run eight points after we talked about it at the morning meeting.”