Jim Cramer’s Latest Game Plan: 20 Stocks to Watch

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 216

Cramer called Alphabet Inc. (NASDAQ:GOOGL) a great company but expressed discontent with the stock’s performance. It will announce its third-quarter earnings on October 29.

“First, we hear from Alphabet. Now, stock’s been all over the map but rarely in a good way. Now, we’ve trimmed our position in what you know as Google for the Charitable Trust because it’s hard to trust. Too often, Alphabet fails to impress. I think it’s a great company, okay, but it’s not a great stock because management often seems indifferent to the things that investors and analysts want to hear.

They really need to talk also about breaking out Waymo somehow. They’ve lost a ton of money… They don’t have enough cars on the road and that has to change in order for them to show that they are not niche, which is pretty much how Elon Musk described them in his Tesla conference call.”

Alphabet (NASDAQ:GOOGL) is advancing in autonomous vehicle technology through its subsidiary, Waymo. Waymo operates a fleet of approximately 700 self-driving cars that regularly transport passengers in cities such as Phoenix, Los Angeles, and San Francisco. The company is also testing its services in Austin, Texas, with intentions to launch fully in the near future.

Recently, Waymo secured a significant $5.6 billion in a Series C funding round led by its parent company. This marks the second time Waymo has sought external funding, following a $2.25 billion Series B round in 2020, which eventually increased to $3.2 billion. The latest capital infusion is earmarked for expansion into new cities and for advancing the company’s autonomous capabilities, particularly for applications in various business sectors.

In October, Alphabet’s (NASDAQ:GOOGL) Waymo announced a significant strategic partnership with South Korean automaker Hyundai. This multiyear agreement aims to integrate Waymo’s cutting-edge autonomous driving technology into a substantial number of electric Ioniq 5 SUVs over the coming years. These vehicles will be produced at Hyundai’s upcoming manufacturing facility in Georgia. Waymo plans to initiate on-road testing of these electric vehicles in late 2025, with the expectation of incorporating them into its robotaxi fleet in subsequent years.