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Jim Cramer’s 20 Bold AI Predictions – See How They Played Out! Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the stocks Jim Cramer recently discussed.
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Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares have been on quite a ride since Cramer’s comments in August. From the day of his remarks to October 4th, the shares gained more than 10%. However, a bearish run started from the peak and led the shares to lose 49.8% until their bottom in April after the Liberation Day tariff announcements. Yet, since the dip, Advanced Micro Devices, Inc. (NASDAQ:AMD)’s shares have gained 110% to mark 36% in year-to-date gains. Most of the stock’s performance is due to Wall Street’s increasing AI bullishness and the belief that Advanced Micro Devices, Inc. (NASDAQ:AMD) can play a stronger role in the AI chip market that is currently dominated by NVIDIA. Here are Cramer’s thoughts about the firm in August 2024:
“I think you can buy more. AMD has been on a steady upward trend this week, and Lisa Su made a great acquisition. Her products, especially for accelerated computing, are terrific. Yes, for AI and generative AI, they are outstanding. Buy more AMD, just as we’ve been doing for the club.
“Listen, guys, it’s driving me crazy—not everything you hear is consequential. There’s a lot of noise; there are a lot of data points that don’t mean anything. Sometimes, companies just have their consumers’ backs, and that’s where the business goes. The economy is fine, and that’s all that matters.”
While we acknowledge the potential of AMD 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.
