Jim Cramer Endorses AMD Amid Strategic Moves and Rising Revenue

Published 2 hours agoAMD

Jim Cramer Endorses AMD Amid Strategic Moves and Rising Revenue

Jim Cramer, the well-known host of CNBC's 'Lightning Round,' has given a positive endorsement for Advanced Micro Devices (AMD). On March 21, 2024, Cramer expressed his approval by saying, 'I like AMD here. I think AMD has been in the penalty box long enough [buy, buy, buy!].' His comments come amid freshness in the market discussions about AMD's strategic progress and growth potential.

AMD has recently announced a strategic partnership with Sony Semiconductor Solutions aimed at advancing LiDAR technology for autonomous vehicles. This collaboration intends not only to enhance the performance of Sony's LiDAR systems but also to establish AMD as a key player in the automotive technology landscape. Additionally, AMD delivered strong financial results in Q2 2024, reporting a revenue increase of 9% to $5.84 billion alongside adjusted earnings per share of 69 cents, surpassing market expectations.

Despite these advancements and Cramer's endorsement, AMD's market position, according to Cramer, does not yet rival Nvidia's dominance, particularly within the AI sector. However, AMD's recent moves, including financial growth and strategic collaborations, underline its ambition to strengthen its market presence and technical capabilities.

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