In this article, we will take a look at 13 stocks that Jim Cramer discussed 12 months ago during his show on March 21, 2024, and examine whether he was right or wrong about those stocks.
During the latest episode of Mad Money, Jim Cramer expressed his frustration over the negative outlook he believes the White House is projecting about the economy. He explained that while he felt a sense of optimism and wanted to get excited about positive developments in the stock market, he held back.
“I wanted to get excited, but you know what I had to do? I had to hold my breath because when this market’s getting ahead of steam going, you know what you can bet on? The president will post something rancorous, dispiriting, and confusing and the market will immediately get put through the meat grinder…
It’s not necessary to do this, nor will they highlight anything good that’s going on here. It makes people feel like everything’s terrible, which isn’t true…
So here’s the bottom line: Every day there is something to celebrate in the business world because the business world is fantastic. We’d be in much better shape if the administration would highlight that. Believe me, the bad doesn’t need your help. It’ll get the word out all by itself.”
Methodology
For this article, we compiled a list of 13 stocks that were discussed by Jim Cramer during the episode of Mad Money on March 21, 2024. We then calculated their performance from March 21, 2024, market close to March 13th, 2025, market close. We have also included the hedge fund sentiment for the stocks, which we sourced from Insider Monkey’s Q4 2024 database of over 900 hedge funds. The stocks are listed in the order that Cramer mentioned them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
13. Nvidia Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 224
At the time, Cramer was as bullish as ever on Nvidia Corporation (NASDAQ:NVDA), urging investors to own the stock, not trade it. He marveled at the company’s dominance in AI, saying:
“We can go to any trade show like the one we went to early this week in Nvidia where we saw the future and we saw how we can own a piece of it. The ripple effects were everywhere today as Nvidia spread pixie dust throughout the averages.”
Since the episode aired last March, Nvidia Corporation (NASDAQ:NVDA) has gained 26.41%.
Cramer remains supportive of the stock. Here’s what he said on the 13th of March:
“And then a simple one, ‘I hear Nvidia’s got the Woodstock of Al, can’t wait to hear that Jensen keynote. He’s a COOL guy. I hear he’s a great cook, too. Renaissance man.’”
12. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 167
Back then, Cramer remained unwavering in his long-standing bullish stance on Apple Inc. (NASDAQ:AAPL), once again reiterating his well-known advice:
“Now you know me as someone who said for ages and ages not to mention a gigantic amount of points that you should own Apple, don’t trade it. […] Own it; don’t trade it, because it’s the most innovative consumer product technology company ever, creating things we know and love, and trust. Apple never creates anything unless it is as perfect as it can be made.”
Apple Inc. (NASDAQ:AAPL) is up 22.36% since these comments. In the most recent Mad Money episode on the 13th of March, Cramer addressed investors’ worries about the recent dip, saying:
“‘I hear that people are cutting back. They are scared and they’re worried. I have to get these tariffs home because we are being abused by everyone. Just turn to my webpage. You can see all the tariffs that they’re forcing us to pay. If you have a better way to get these trade barriers down, tell our team we’re and put your name on.’ As it is, I’m surprised Trump doesn’t post, ‘This is the first 10% correction in two years, I told you there would be pain. What a terrible streak for Apple. They are killing that one.’ Doesn’t seem right long term, we all use the phones… Periodically, we’re going to have some down markets, sell-offs, corrections, bear markets, look, they’re fine because maybe sometimes they’re deserving. We’re gonna see some stocks sink, even favorites like Apple because they might have trouble making the quarter.”
11. Medtronic plc (NYSE:MDT)
Number of Hedge Fund Holders: 69
At the time, Cramer saw Medtronic plc (NYSE:MDT) as one of the major winners from Nvidia’s AI advancements, particularly in medical technology:
“Medtronic is the leading medical device maker. They’re using Nvidia’s technology to create more accurate colonoscopies with their Genius Intelligence Endoscopy Module that makes far fewer mistakes than an untrained human eye.”
Medtronic plc (NYSE:MDT)’s stock has risen by 10.69% since then.
Earlier this year, on the 14th of January, Cramer talked about the stock again, saying the following:
“Yesterday… we had Geoff Martha on, he’s the CEO of Medtronic, that’s another stock that hasn’t done anything lately. I thought he told a great story about all the new products he’s rolling out, lifesaving products nobody seemed to care about. It was a big yawn. Uh-uh. Today, when the stock was one of the best performers of the S&P 500, up 4%, I remembered what he said yesterday, which is things are pretty darn good. It does make a difference.”
10. PepsiCo Inc. (NASDAQ:PEP)
Number of Hedge Fund Holders: 70
When a caller asked about PepsiCo Inc. (NASDAQ:PEP), Cramer acknowledged concerns about the impact of weight-loss drugs, saying:
“Well, you know, look, this is about the GLP-1 drugs, it’s about Mounjaro, it’s about Zepbound, it’s about the GLP-1s. People feel that people won’t want to eat as many Fritos… I say Pepsi is fine, not great, not bad, but a 3% yield is probably not going to hurt you.”
Cramer was right to be worried then. PepsiCo Inc. (NASDAQ:PEP) has fallen by 14% since then.
He re-affirmed his position on the 13th of March, saying:
“No, Doritos obviously PepsiCo got a real hit, went down below 150.
“Pepsi’s GLP-1 on the Fritos side. And now at least, one of the things that’s great about Ramon Laguarta, he’s actually even willing to mention GLP-1. GLP-1 is such a curse word among the food and beverages.”
9. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 188
Cramer sounded a bit cautious about buying Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) when a caller inquired. Here’s what his advice was at the time:
“I think it’s worth waiting for a pullback. You’ll just get some story out of China that makes it sound like everyone’s scared, and that’s when you’ve been buying this, and that’s what you’ll do again.”
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has risen by 23% since the episode aired last March.
On the 5th of March, Cramer said the following about the company:
“We are really being cavalier if you think these companies can radically switch anything within a five year period. In the same way that Taiwan Semi, maybe the greatest manufacturer on Earth, can’t seem to get those big foundries going in our country.
8. Five Below Inc. (NASDAQ:FIVE)
Number of Hedge Fund Holders: 48
Back then, Cramer saw Five Below Inc. (NASDAQ:FIVE) as a potential buying opportunity, but he also noted the challenges facing discount retailers. Here’s what he said:
“Five Below sank today after its latest earnings report, but is now the time to go shopping for the discount chain? […] This might be a terrific entry point, although it’s tough to own any of the discount retailers here.”
The stock has taken a massive hit since then. Five Below Inc. (NASDAQ:FIVE) is down by 59% since then.
7. Palo Alto Networks Inc. (NASDAQ:PANW)
Number of Hedge Fund Holders: 83
When asked about Palo Alto Networks Inc. (NASDAQ:PANW), Cramer reaffirmed his trust in the cybersecurity giant at the time, saying:
“We are sticking with it for the Charitable Trust, as we’ve told the Investing Club. […] Cybersecurity is going to be around for a very long time. Platformization is beginning to take hold, lots of customers are calling us, and hacks are continuing to rise.”
Palo Alto Networks Inc. (NASDAQ:PANW) has risen by 25.16% since then.
When a caller asked Cramer whether they should buy the stock on the 26th of February, he replied with the following:
“Really interesting question. Nikesh Arora put up a really good quarter. The headlines were out immediately. Before they even could read the release, sellers came in. Had they read the release, they would’ve realized it is fine. I like Palo Alto very much. It’s a great way to get involved in cybersecurity.”
6. Super Micro Computer Inc. (NASDAQ:SMCI)
Number of Hedge Fund Holders: 45
When a caller asked about Super Micro Computer Inc. (NASDAQ:SMCI), Cramer made it clear he strongly preferred Nvidia over SMCI back then, saying:
“No, no, no! I would rather buy Nvidia 100 points higher than it is now than buy SMCI. That’s how I feel about it.”
That was a great call by Jim Cramer as Super Micro Computer Inc. (NASDAQ:SMCI) has plunged by 57.13% since his comments.
His comments from the 7th of March also reflect his strict stance on the stock:
“There are still remedies that are needed. Until all the remedies happen, I am not going to approve it. In the meantime, that industry has become very cutthroat. Look at HPE today. If you want to know the winner in that space, it’s going to be Michael Dell and I do say at this level that it would be a good idea to buy Michael Dell’s company. It is so low, it sells, it’s nine times earnings and Michael Dell is fantastic at what he does and also probably one of the most charitable people I’ve ever met.”
5. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 109
Cramer was bearish on Alibaba Group Holding Limited (NYSE:BABA) at the time, primarily due to concerns about Chinese government intervention:
“If we trusted the Chinese to do the right accounting, do the right thing by people who are working really hard, then we would say buy it. But right now, they seem to be inclined to attack all the rich people, including the people who run that company, so we’re going to have to hold off till it goes under $70.”
Alibaba Group Holding Limited (NYSE:BABA) has exploded since then, rising by 89.62%.
However, Jim Cramer has changed his stance on the stock. Here’s what he said on the 21st of February:
“Well BABA, we’ve got two streams of revenue that are explosive so to speak. One is cloud, and the other is eCommerce. Now, it’s very clear that the PRC, the party has said look, we want more spending. And that’s the eCommerce. And when it comes to the cloud, well that, you could say that’s DeepSeek, they really know what they’re doing over there. And by the way, Jensen Huang, has been quiet but there is a piece, this morning, that don’t worry, it’s really post-training. That’s a more sophisticated way to put it, but he’s broken his silence. But Alibaba can, when I speak to David Tepper, I mean it’s very clear, Alibaba is still inexpensive. I don’t like the idea that you’re coming in at this level. But the fact that they have two revenue streams that are on fire not one really speaks to how China wants to promote spend and how brilliant they turned out to be in terms of technology.”
4. Advanced Micro Devices Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 143
When asked about Advanced Micro Devices Inc. (NASDAQ:AMD), Cramer sounded positive despite the company’s struggles at the time, noting his admiration for the CEO:
“I like AMD here. I think AMD has been in the penalty box long enough, and I’ve got to tell you, I do live in Nvidia land, but I have not lost sight of the fact that Lisa Su is one of the greatest managers of our time. Can I own both Nvidia and AMD for my Charitable Trust? I’m coming around to thinking I can.”
It’s been a tough ride for Advanced Micro Devices Inc. (NASDAQ:AMD) since then, with the stock having dropped by 44%.
Although Jim Cramer appeared less optimistic about the stock on the 5th of February this year, he still has some hopes for the company, saying the following:
“And then you know AMD didn’t help the case. Because AMD did not do well last night. . . yeah that Citi downgrade was substantive.”
“They have a transition going on.
“You can’t [defend AMD] because it was indefensible. They basically talked about how things are going to be flat. That they don’t really have the right chips right now. They are doing very well versus Intel on the less expensive CPUs, but they kinda missed the cycle. Now they’ll catch up in the second half, but you don’t hear them in the mix. That’s the problem. Because they don’t have the right GPUs. That’s whats going on.
“[On CEO Lisa Su saying AMD delivered greater than $5 billion dollar data center revenue] Well true, but AI revenue is flat to down for the first half. And there’s going to be margin dilution. Which is why you’re seeing this. There’s an inventory build. There’s poor leverage to what they’re doing. This again cuts to you know who, I don’t need to say I anymore because I say it too much . . .NVIDIA.
“[on next month being the anniversary of stock touching $227] Well I mean there was a time, look she was putting up, Lisa Su was putting up very big numbers. She is. Uh took about five billion dollar projections, she’s making that. But what most people say is, wait a second, this a halcyon time for what she makes, the GPUs, and she’s not delivering.”
“But look I think she’ll be back. They’re making a lot of money. But it’s fallen very much out of favor. And you got a downgrade today, and I just feel that people just say, you know what, NVIDIA won. NVIDIA won another round and the long knives are out for NVIDIA we’re waiting to hear what they’re going to do with China, we know that there are a lot of people who say that Amazon’s going to talk about more custom chips. Maybe that’s Broadcom. But Amazon, so far is not using AMD GPU. And that was what the customer they really needed and we don’t see it.”
3. Applied Materials Inc. (NASDAQ:AMAT)
Number of Hedge Fund Holders: 80
At the time, Cramer was bullish on Applied Materials Inc. (NASDAQ:AMAT) but suggested waiting for a pullback, saying:
“Look, it’s never been the wrong time in the last couple of years because Gary Dickerson is so great at what he does. Now it’s up five, it’s at a high… I’d buy some and let it pull back. I would not buy all at once.”
Applied Materials Inc. (NASDAQ:AMAT) has fallen by 27.42% since that episode aired.
Jim Cramer remains neutral on the stock. Here are his latest comments from the 21st of January:
“Couple of semiconductor names like Applied Materials, which make semiconductor capital equipment, and even the lowly Intel both are also roughly 12% higher thanks to the amazing quarter (of Taiwan Semiconductor)… Applied Materials rallied 4.5% last Thursday and is now up more than 8% in the three trading days since the quarter.”
2. Lowe’s Companies Inc. (NYSE:LOW)
Number of Hedge Fund Holders: 70
Cramer was bullish on Lowe’s Companies Inc. (NYSE:LOW) and praised its leadership under Marvin Ellison:
“Lowe’s is really good, and Marvin Ellison is a great CEO. I’ve got to tell you, Lowe’s almost hit its all-time high. Home Depot is great too. Both of those are good; either one is right to buy right now.”
Lowe’s Companies Inc. (NYSE:LOW) is another stock that has failed to meet expectations since then, falling by 15%.
Jim Cramer’s comments from the 26th of February show that he still has some hopes for the company:
“Marvin Ellison, go[ing] back and forth with him, this was an excellent quarter. Particularly considering rates, although the rates have come down a little bit. And the lack of housing turnover which is typically been the key metric because when there’s housing turnover you go to Lowe’s, you tend to rehabilitate, you make it so you renovate. I was struck by the fact that the numbers were [inaudible] are improving. Because Lowe’s is of the [inaudible] of do it yourself. We had good pro numbers from Home Depot, good pro numbers from Lowe’s, something could be on here David. It is not as bad as feared. These two companies are excellent.
“. . and their [Home Depot] numbers were good, in this environment. Now you gotta look, if you looked at Home Depot, or this, I mean, look everyone was, there was a lot of short money betting against these. I think that when you have a stock that goes down like this you should rethink. But I liked, I liked them.
“I’ve always liked . . .ever since Marv came in. And the Home Depot team, Ted Decker, look these teams, remember these guys take a lot of share too from the mom’s . . .there’s still mom and pop hardware stores that they take. And remember, you’re betting against now they’re Christmas Season, which is going to be, the garden season. Appliances still bad every where.”
1. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 83
Cramer had mixed views on Intel Corporation (NASDAQ:INTC) back then. Here’s what he said about the company at the time:
“The U.S. government is writing a check to Intel for $8.5 billion, extending an $11 billion loan to build out semiconductor plants here in America. You’re probably thinking ‘boondoggle,’ but I say that is actually all wrong. […] I know Intel can get the job done—it seems to be a fine choice to me, even as I don’t like the stock.”
Intel Corporation (NASDAQ:INTC) has been one of the worst performers of the S&P 500 index over the past year. It has dropped by 43.36% in the last 12 months.
The company was mentioned during the latest episode of Mad Money on the 13th of March and here’s what Jim Cramer had to say about it:
“How about this one? The last guys who were doing this job gave Intel a lot of money and boy was I angry. I am still steamed about it, but I see they picked Lip-Bu Tan as CEO and I am hearing the guy is dynamite. Intel’s a national treasure. This could be GREAT NEWS.’”
While we acknowledge the potential of INTC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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