In this piece, we will look at the stocks Jim Cramer recently discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer discussed OpenAI’s valuation after media reports suggested that the firm was trying to raise $100 billion in capital at a valuation of $830 billion. OpenAI has become one of the most valuable startups in the world in the era of AI. However, the $830 billion figure came weeks after other media reports had suggested that the AI company was raising capital at a $500 billion valuation.
The debate surrounding OpenAI’s valuation blends into the deeper debate about AI spending. The year’s tail end has seen volatility in the share of data center infrastructure providers Oracle and CoreWeave. While the two stocks are up by 17% and 100% this year, over the past six months, they have shed 5.7% and 54%, respectively. Media reports have suggested that data center construction woes and funding constraints have driven the share prices.
Commenting on OpenAI, Cramer wondered where the reports about its valuation were coming from. He also outlined a split in sentiment for the firm, with some sectors believing that its products were a commodity while others held the opinion that they were proprietary. Tying the two into the broader discussion about valuation, the CNBC TV host remarked:
“Well look, this is rather an amazing elevation of valuation because, they were 500 billion on Monday, they got to 750 billion on Wednesday, and then last night they got to 830 billion. This has been one of the greatest weeks of all time. I would love to have that week. David, now come on, that is the week to end all weeks, right? That’s like four two point conversions.”
“. . .There are people who think that this is not a commodity, that it’s proprietary. Then there are other people who think that these are commodities and that therefore, they have to take the money very quickly. I don’t a soul who thinks that they’re just a joker. But I do think that the way this has been disseminated, does seem like, that I’d to hear, who is telling them, these various press outlets. They’re never gonna tell me and you’re never gonna know, but to say it’s 500 on Monday and 830 last night. . .”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on December 19th. We also provided hedge fund sentiment for each stock as of the third quarter of 2025, which was taken from Insider Monkey’s database of 978 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10. NIKE, Inc. (NYSE:NKE)
Number of Hedge Fund Holdings: 89
NIKE, Inc. (NYSE:NKE) is a stock that Jim Cramer frequently discusses. The firm reported its second fiscal quarter earnings on December 18th. The results saw NIKE, Inc. (NYSE:NKE)’s $12.43 billion in revenue and $0.53 in earnings beat analyst estimates of $12.22 billion and $0.38. However, media reports suggested that a 17% drop in Chinese revenue contributed to a post-earnings share price drop.
NIKE, Inc. (NYSE:NKE)’s ongoing turnaround is a key factor for debate, and following the earnings, multiple analysts shared their take on the firm. For instance, UBS cut the share price target to $62 from $71 on December 19th and kept a Neutral rating. The bank explained that while NIKE, Inc. (NYSE:NKE) should return to growth eventually, the firm needs more time to adjust its inventory. Joining UBS, BofA also cut the share price target. It reduced NIKE, Inc. (NYSE:NKE)’s target price to $73 from $84 and cited Chinese concerns as the reason. Stifel trimmed the target by $3 to $68 and kept a Hold as it commented on the third quarter guidance miss.
As for Cramer, he focused on China but kept the faith with NIKE, Inc. (NYSE:NKE) and shared additional insight in the form of the ongoing debate in the Supreme Court about President Trump’s tariffs:
“China was quite difficult for them, because they were so trashed. They trashed themselves, they were in the wrong outlets, they’ve got bad inventory. One of the things that Elliott said that was devastating was this reality, we’ve become a lifestyle brand. I mean that is the kiss of death. They’re not a lifestyle brand, they’re a sports brand. Matter of fact, they changed a lot of things in America. They changed it from, having a man, woman, child brand to having, verticals to sports.
“Okay I’m going to say something that people are not going to like. Got to buy the stock. . .two reasons, one, if you think, that the supremes are going against the President, 70, like that. Okay. In tariff. Now I’m not talking Kalshi, I don’t want to go to Kalshi, because I’m investment. So I want to own the stock. . .I’d rather own the stock than bet on the supremes. . .but, second, Elliott Hill is a different kind of CEO. He came in and he recognized, Carl, there were so many things wrong. And he fixed North America. North America’s really good, but then he goes on and on about how poorly he’s doing in China, to lower expectations. They are doing poorly in China in every single thing they’ve tried, they’ve tried to discount that, it didn’t work. They tried full price, that didn’t work. But he’s going to go over there. And Elliott Hill’s going to fix it. And we’re all going to say, why didn’t we buy it at 56, 57. Now I am not doing the Jefferies back up the truck, because previously he had said, just buy it, credibility issue. But I do say that, you know what, those who sell it down here, I think they’re gonna look back and say, first when the Supreme Court, when Gorsuch says listen we don’t like the tariffs, you’re going to say why didn’t I buy at 70, and then why China turns, you’re gonna say why didn’t I buy it at 80? So, yes, I’m a believer in Elliott, totally, and I think he ran a great call. It was a self effacing call. . .
“. . .I am saying that the turn is real, he will do it. . .you either believe in Elliott Hill or you don’t. Okay. You’re betting on Elliott Hill, and he came in, when I saw him last, he said I’m gonna turn US. . . and this quarter US had turned. Now, he’s set his sights on China and people can sit there and say you know what, he’s gonna screw up China or you can say he’s a winner. I’m going with the winner attitude. . .”
9. FedEx Corporation (NYSE:FDX)
Number of Hedge Fund Holdings: 60
FedEx Corporation (NYSE:FDX) is another key US firm in the middle of a turnaround. As is with the turnarounds of Nike and Starbucks, Cramer is also a believer in the firm. FedEx Corporation (NYSE:FDX) recently posted its earnings report for the fiscal second quarter on December 18th. The results saw the firm’s $23.5 billion in revenue and $4.82 in earnings per share beat analyst estimates of $22.8 billion and $4.12. FedEx Corporation (NYSE:FDX)’s earnings meant that Cramer, who had predicted ahead of the results that they would be a “blowout,” was proven correct. After the earnings, BMO Capital raised the share price target to $290 from $265 and kept a Market Perform rating. Since Cramer’s comments on December 19th, shared below, FedEx Corporation (NYSE:FDX)’s shares are 2.2% higher:
“Again, people don’t know what they’re selling. This was a quarter, I was interviewing Raj, Raj Subramanian the CEO. . .and I know Raj is a hitter. So Raj comes out and he goes, look, one of the things that did well was business-to-business. I scrapped the whole interview and pivoted to business-to-business because I’ve been waiting for that. That’s where the money is. Healthcare, the healthcare vertical, they owned that. They are doing amazing things to get parts to data centers, that’s only nine billion, healthcare could be 40 billion. They are having a, they had a very good Black Friday, then they trailed off but it’s come back. The people who are selling this stock, are betting against a guy, who is literally taking so many costs out. He’s splitting off the freight, which is bad. What are you selling it for?. . .what do you want to go into?
“. . .business-to-business is really sticky, business-to-consumer is fickle. There he went with business-to-business, if Raj is making that turn, it’s amazing. . .but I do think that what’s happening at FedEx, is he is not only gotten so far as to be able to fix a lot of the costs which is what he’s working on, but now he’s playing offense with business-to-business, and people don’t understand, B2B versus B2C. B2B is where the money is. . . .you want to be B2B. . .”
Hedge Fund Resource Center