Bank of America Corporation (BAC): I Don't Know If Buffett Or The Number Two Sold Bank Of America, Says Jim Cramer

We recently published Jim Cramer Discusses These 10 Stocks & AI-Led Disinflation. Bank of America Corporation (NYSE:BAC) is one of the stocks Jim Cramer recently discussed.

Bank of America Corporation (NYSE:BAC) is one of the largest domestic banks in America. Its shares have gained 6.6% year-to-date and have recovered all losses since President Trump’s Liberation Day tariff announcement. However, the stock dipped by 3.6% in July after HSBC’s downgrade. Yet, soon, the shares would rise after Bank of America Corporation (NYSE:BAC)’s latest earnings report. Another driving factor behind the somewhat weak share price performance is Berkshire Hathaway’s decision to sell the stock to reduce its investment by more than 30%. Cramer discussed whether Warren Buffett was behind the investment firm’s decision to sell Bank of America Corporation (NYSE:BAC):

“I know, I mean I was thinking about the fact that they’re selling Bank of America, is that Buffett selling Bank of America or like the number two selling Bank of America.”

Previously, Cramer commented in detail about Bank of America Corporation (NYSE:BAC)’s performance after the Berkshire selling:

“Let me ask you something. Why is Bank of America stock still just selling at 13 times earnings? The franchise has been putting up consistently terrific earnings. Brian Moynihan’s doing a great job. I think the stock’s cheap because of the relentless selling from Berkshire Hathaway. One day, Berkshire will finish selling, and when that happens, you’ll be paying a much higher price-to-earnings multiple for this fine bag. My advice: Don’t wait for them to finish. There’ll be a good quarter.”

While we acknowledge the potential of BAC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.