Jim Cramer’s Top 10 Must-Watch Stocks Today

3. Advanced Micro Devices Inc. (NASDAQ:AMD)

Number of Hedge Fund Investors: 108

Jim Cramer highlights Advanced Micro Devices Inc. (NASDAQ:AMD) as a notable player in the chip industry, particularly in the artificial intelligence space. Although Advanced Micro Devices Inc. (NASDAQ:AMD)’s chips are not as advanced as NVIDIA Corporation (NASDAQ:NVDA)’s, they remain highly competitive. Cramer points out that Advanced Micro Devices Inc. (NASDAQ:AMD)’s stock is relatively inexpensive based on its 2026 earnings forecasts compared to other companies in the S&P 500.

“For example, how about AMD, which also makes chips, including chips for artificial intelligence? While not quite as useful as Nvidia’s, they’re still in the same league. Plus, AMD makes chips for traditional computing and servers that compete against a hobbled Intel. AMD’s stock is actually very cheap based on its 2026 earnings estimates compared to others in the S&P 500. And by the way, what happened to Nvidia was actually good for AMD. They’re a competitor, for heaven’s sake.”

Advanced Micro Devices Inc. (NASDAQ:AMD) stands out as a promising investment due to its strong performance in the semiconductor sector, especially in data centers and AI technologies. In Q2 2024, Advanced Micro Devices Inc. (NASDAQ:AMD) surpassed revenue expectations, fueled by a notable 115% year-over-year growth in its data center business. This impressive increase underscores Advanced Micro Devices Inc. (NASDAQ:AMD)’s effective expansion into AI-driven markets and its competitive edge over rivals.

Additionally, Advanced Micro Devices Inc. (NASDAQ:AMD)’s recent $4.9 billion acquisition of ZT Systems is set to boost its capabilities in AI chips, enhancing its position in the growing AI sector. Despite some recent stock volatility, Advanced Micro Devices Inc. (NASDAQ:AMD)’s shares have rebounded, indicating confidence in its long-term potential. With its ongoing innovation in AI and continued success in data centers, Advanced Micro Devices Inc. (NASDAQ:AMD) is well-positioned for future growth.