Jim Cramer Says the Next Trillion-Dollar Stock is "More Likely to Be the Stock of JPMorgan"

JPMorgan Chase & Co. (NYSE:JPM) is one of the stocks stocks Jim Cramer recently discussed. Cramer said that it could be the next trillion-dollar stock. He stated:

“The anomaly this time, it looks like the next trillion-dollar stock won’t be Eli Lilly. If anything, it’s more likely to be the stock of JPMorgan, a bank… JPMorgan’s at just over $850 billion, up 29% for the year… To me, this is a monumental move, people, a bank stock putting on that kind of market cap, right on the eve of an incredibly important Fed meeting where everyone seems to be expecting a quarter-point rate cut despite a recent uptick in inflation. What’s going on here? First, understand the trillion-dollar barrier is really hard to cross…

Meanwhile, like a horse that’s bided its time but is now at the far turn, JPMorgan stock is putting on a run for the roses move. That’s as breathtaking as it is obscure… JPMorgan stock has been consistently selling for about 14 times its earnings for many, many years, dramatically lower than the 22 times earnings bogey of the S&P 500, but it’s been levitating alongside the earnings estimates all year. Now, JPMorgan sells for 15.7 times this year’s numbers…

JPMorgan’s got something special. It excels at so many things… JPMorgan has always been a top-quality bank, but it’s now become a fantastic place to work, and its global reach is unmatched. There’s a reason its marketing cap is so much bigger than the other major banks. Can this continue? I have to tell you, if you look at the forward multiple, meaning how much JPMorgan’s trading on versus next year’s earnings estimates, the answer is a resounding yes because this one sells for just 15 times the 2026 estimates. That’s puny.”

JPMorgan Chase & Co. (NYSE:JPM) provides financial services, including consumer banking, lending, payments, credit cards, mortgages, and investment products. The firm also offers investment banking, securities services, asset management, and wealth solutions for individuals, businesses, institutions, and governments.

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