Jim Cramer Says Advanced Micro Devices (AMD)'s Turnaround Is One of The Greatest In History

We recently published 12 Stocks on Jim Cramer’s Radar.  Advanced Micro Devices Inc. (NASDAQ:AMD) is one of the stocks on Jim Cramer's radar.

Chip designer Advanced Micro Devices Inc. (NASDAQ:AMD)’s shares are up by 105% over the past year and down by 4% year-to-date. February has been a tough month for the stock as it closed 17% lower on the 4th after the firm’s fourth quarter earnings. On the same day, Baird discussed Advanced Micro Devices Inc. (NASDAQ:AMD)’s shares. It kept an Outperform rating and a $300 share price target. Some factors that the financial firm pointed out were tailwinds from AI demand and accelerated sales of AI CPUs based on the x86 microarchitecture. More recently, Evercore ISI also commented on Advanced Micro Devices Inc. (NASDAQ:AMD) as it raised the share price target to $358 from $328 and kept an Outperform rating. Evercore’s coverage came after the chip designer entered into a new deal with social media giant Meta. Through the $60 billion deal, Meta will buy Advanced Micro Devices Inc. (NASDAQ:AMD)’s GPUs and CPUs after entering into a similar arrangement with NVIDIA. Following the deal, Cramer praised the firm’s CEO in a tweet:

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. Follow Insider Monkey on Google News.