Jim Cramer’s Latest Lightning Round: Top 10 Stocks

2. Walmart Inc (NYSE:WMT)

Number of Hedge Fund Investors: 95

Jim Cramer in a latest program discussed Walmart’s latest quarterly results which were strong and showed the company is growing despite a weakening consumer sentiment. Cramer highlighted Walmart’s Flipkart growth in China and said while other retail companies are getting crushed in China, Walmart grew. Cramer also pointed to about 21% growth in Walmart’s global e-commerce business.

Jim Cramer said Walmart’s conference call was “heavenly” and highlighted the following comment from WMT CEO during the call:

So far, we aren’t experiencing a weaker consumer overall. Around the world, our customers and members continue to want four things. They want value; they want a broad assortment of items and services; they want a convenient and enjoyable experience buying them; and they want to do business with a company they trust. These four things are constant. But the way we provide them is changing and changing fast. The results we’re delivering are due to real progress across these dimensions. As it relates to value, we’re lowering prices. For the quarter, both Walmart U.S. and Sam’s Club U.S. were slightly deflationary overall.

Jim Cramer also highlighted how WMT is using generative AI to save money and improve efficiency, mentioning this quote from the management during the call:

“We’re finding tangible ways to leverage Generative AI to improve the customer, member, and associate experience. We’re leveraging data and large language models from others and building our own. One example is that we’ve used generative AI to improve our product catalog. The quality of the data in our catalog affects nearly everything we do from helping customers find and buy what they’re looking for, to how we store inventory in the network, to delivering orders. We’ve used multiple large language models to accurately create or improve over 850 million pieces of data in a catalog. Without the use of generative AI, this work would have required nearly 100 times the current headcount to complete in the same amount of time. ”

Here is what Cramer said about this:

“That’s the best use case (of AI) I’ve heard yet…So who says generative AI does not have a use case? It just saved Walmart a fortune.”