Jim Cramer’s Top 12 Must-Watch Stocks

6. First Solar Inc. (NASDAQ:FSLR)

Number of Hedge Fund Investors: 66

Jim Cramer noted that First Solar Inc. (NASDAQ:FSLR) is performing well in the stock market, calling it an “up stock.” He expressed his positive outlook on First Solar Inc. (NASDAQ:FSLR), indicating that its strong performance is something he appreciates.

“First Solar is an up stock. I like that.”

First Solar Inc. (NASDAQ:FSLR) is a strong investment choice, supported by increasing demand for renewable energy, strategic growth plans, and solid financial results. In its Q2 2024 earnings report, First Solar Inc. (NASDAQ:FSLR) revealed a revenue of $1.4 billion, a 25% increase from the same quarter last year. This growth stemmed from higher sales of its advanced solar modules, which are gaining popularity.

First Solar Inc. (NASDAQ:FSLR) also reported an improved gross margin of 29%, reflecting effective cost management and operational efficiencies. Furthermore, First Solar Inc. (NASDAQ:FSLR) raised its full-year revenue forecast, indicating strong business momentum. Recently, First Solar Inc. (NASDAQ:FSLR) announced a $1.2 billion investment to expand its manufacturing capabilities in the U.S., aligning with the government’s clean energy initiatives and benefits from the Inflation Reduction Act.

This expansion aims to boost production capacity and reduce dependence on international supply chains, enhancing First Solar Inc. (NASDAQ:FSLR)’s role in the domestic solar market. First Solar Inc. (NASDAQ:FSLR)’s focus on thin-film solar technology gives it a competitive advantage, as this approach offers greater efficiency and lower environmental impact compared to traditional silicon panels. Partnerships with major utility companies and a robust project pipeline further strengthen its market position.