In this piece, we will look at the stocks Jim Cramer discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer discussed inflation and layoffs in the context of AI. Cramer believes that since we’re learning to create more jobs, there appears to be turmoil in the labor market:
“You know I was just thinking about, Conagra’s reported today, tariffs added pretty big chunk to their inflation number and the inflation number for food. Uh, we’ve had like, you know 20 years worth of inflation in the last five years. And it just reminds me that everyone is hurting from so many different things that it doesn’t surprise me that people are circumspect about hiring. I think that they are layoffs. I was listening to a terrific podcast, Brad Gerstner with Jensen Huang, you know that initially you have people who are being laid off before you figure out how to create more jobs. So we’re really at the crux of AI, we’re at the thought that maybe there’s turmoil.”
Cramer also briefly commented on the data center buildout and its relation to the economy:
“Do you know David that when I look at what’s up versus what’s down, it’s really the data center buildout is what’s keeping this economy from going negative.”
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 October 1st.
For these stocks, we also mentioned the number of hedge fund investors. 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. Palantir Technologies Inc. (NASDAQ:PLTR)
Number of Hedge Fund Holders In Q2 2025: 78
Cramer discussed Palantir Technologies Inc. (NASDAQ:PLTR) in the context of reports discussing that the Trump administration might furlough 550,000 federal employees in case of a budgetary impasse.
“Yeah I think that this is the one number that could surprise. Everyone is pretty complacent about it, and some people are 700,000, some people are 900,000, what if it’s over a million? A million people furloughed? . . .I was wondering, I saw Palantir down today, Palantir I said 50 goes to a 100, 100 goes to 150, 150 goes to 200. But, this is a company that does a lot of business. So does ServiceNow. Now I don’t think these companies are long term affected. But maybe the people they are trying to appeal to, maybe they’re furloughed. Now one thing I know when you mentioned this, these companies are very smart. And they will tell me not worry. I think the perception is that you should worry. I’m sure Palantir’s going to get its business.”
11. ServiceNow, Inc. (NYSE:NOW)
Number of Hedge Fund Holders In Q2 2025: 106
ServiceNow, Inc. (NYSE:NOW) is a software-as-a-service (SaaS) company that enables workflow management automation. Cramer has previously discussed the firm in the context of helping the US government manage its data releases. This time, he commented on ServiceNow, Inc. (NYSE:NOW) amidst reports of the Trump administration furloughing more than half a million people:
“Yeah I think that this is the one number that could surprise. Everyone is pretty complacent about it, and some people are 700,000, some people are 900,000, what if it’s over a million? A million people furloughed? . . .I was wondering, I saw Palantir down today, Palantir I said 50 goes to a 100, 100 goes to 150, 150 goes to 200. But, this is a company that does a lot of business. So does ServiceNow. Now I don’t think these companies are long term affected. But maybe the people they are trying to appeal to, maybe they’re furloughed. Now one thing I know when you mentioned this, these companies are very smart. And they will tell me not worry. I think the perception is that you should worry. . .I know Bill McDermott is doing amazing business. And by the way it’s really the only SaaS company that I think is triumphing over AI. But David the fact is is that if you’re trying to sell to the government those are the people may not be around?”
10. Paychex, Inc. (NASDAQ:PAYX)
Number of Hedge Fund Holders In Q2 2025: 50
Paychex, Inc. (NASDAQ:PAYX) factored into the conversation as Cramer discussed the US economy. As we noted in the introduction, the CNBC TV host wondered if US economic performance would be worse if data center spending were removed from the equation. Paychex, Inc. (NASDAQ:PAYX)’s shares are down by 8.4% over the past month. Craer discussed the stock and the firm’s opinion regarding small and medium businesses in America:
“And against that, I’ve got John Gibson from Paychex last night. . .he’s just saying listen, small and medium-sized businesses are still doing incredibly well. And then you look at the chart of the stock and people are deciding that Paychex is, is doing poorly itself because of small and medium-sized.”
In his appearance on Mad Money on September 30th, Cramer discussed an important aspect of Paychex, Inc. (NASDAQ:PAYX)’s performance:
“There is a payroll processor issue. The company actually makes more money when rates are high, but after employers prefund their payrolls, Paychex collects interest on that money for every minute before it’s deposited in your bank account… That used to be a big issue, but the company’s gotten well beyond that. There’s a lot of other levers that it pulls.”
9. Fermi Inc. Common Stock (NASDAQ:FRMI)
Number of Hedge Fund Holders In Q2 2025: N/A
Fermi Inc. Common Stock (NASDAQ:FRMI)’s shares were listed for trading the day this episode was aired. It is a company seeking to target the growing needs of AI infrastructure by building a data center complex powered by nuclear, natural gas, and solar power. Through these power sources, Fermi Inc. Common Stock (NASDAQ:FRMI) aims to rely on clean energy to power AI data centers. Cramer commented on the firm after co-host David Faber mentioned that an immediate dilution of $18.90 was suboptimal. Since the day the shares started trading, they have lost 6.7%. Here is what Cramer said about Fermi Inc. Common Stock (NASDAQ:FRMI):
“I think it is, it may be suboptimal, this fellow. . . Toby Neugebauer, well he had an anti-woke bank. . .
“I think that this is one of the most fascinating deals of all time. Because what it says is that. . .well because it’s very rare that I see a deal where it’s like, I have an idea, let’s raise 13 billion. . .”
8. NIKE, Inc. (NYSE:NKE)
Number of Hedge Fund Holders In Q2 2025: 81
Jim Cramer discussed NIKE, Inc. (NYSE:NKE) after the firm’s latest quarterly earnings report. The results saw its fiscal first quarter revenue of $11.72 billion and earnings per share of $0.49 beat analyst estimates of $11 billion and $0.27. Cramer commented on the earnings call and NIKE, Inc. (NYSE:NKE)’s CEO, and its China business:
“[On shares higher in quarterly beat and firm saying it expects tariff costs to reach $1.5 billion] China down almost 10%. I thought that this was a, this conference call was a orchestration. It was kind of like what we used to get Mark Parker, the great former CEO. I thought that this was one of the best most encouraging conference calls of the year. Elliott Hill does, I want everyone to read it, because he has this great arc in it, David. . .he talked about the British win in women’s global football. And the national pride of the Lionesses, Lucy Bronze playing with a fractured tibia in this, I’m saying this because this man is a person who understands sports. And this is about sports. And I think this is a wonderful, wonderful conference call. I think the stock goes to a 100. And that’s why the charitable trust’s been buying the heck out of it.”
“This guy, he’s a Cowboy fan, I’m not going to hold that against him. He knew everything. He knew everything. The previous CEO, who I will not mention because. John Donahoe didn’t know anything, is just, was so out of, over is head. This guy is going to win it’s about sports. It’s about running. It’s about Jordan. It’s about athleticism. It’s about getting China back. It’s about FootLocker now owned by DICK’S. This is a great story. Nike is a great story, Carl. And the conference call was equal to it. He kept expectations low. He’s not a fool. He knows what to do.
“[After Carl mentioned margin guidance was too god] Well tariffs, look lets not forget, New Balance snuck in there, New Balance got you know, New Balance took some share. And they have good shoes. . .I’m going to use one word for this guy, gamer. He’s a gamer. . .I’m telling you he is going to take China, he’s going to turn it around. . . he knows sports, he loves sports, all kinds of sports. Nike went away from it. Nike became a technology company. Nike might as well have become Rockwell Automation.
“Well I know that, people feel ONON’s come down’s a little, ONON’s like, that’s a nice competitor. . .but I just think that this move, to bring back the affiliates, this Foot Locker-DICK’S, the relation he has with wholesalers is great. There’s still some inventory in the channel. No doubt about that. I am worried about China. But Elliott Hill, gamer, if he were here. . .he would just be schooling us.”
7. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders In Q2 2025: 45
Cramer discussed Ford Motor Company (NYSE:F) in the context of Tesla announcing a price hike after its EV credits expired. He commented that the firm’s hybrid business could perform well in the current market environment:
“Yeah and I think one of the reasons why Ford stock is up is that they have a hybrid, they’re the hybrid company and they crush it on hybrids. I think you’re gonna see Ford and Farley really start to zoom here. It’s not necessarily David the way you might want it, which is that we, if you care about the environment, I still think that EV cars are important.
“It’s for Ford, I went to their line and saw the, went to the Bronco line. They can build, the Bronco launch is going to make them a fortune. I just think that this is the right stock. I don’t want to recommend the stock just because it’s not going to lose money on EVs, but they are the one to buy if you think that hybrids are in charge and I think hybrids is the way things are going in this country.
“And Ford’s got the right lineup. I’m waiting for, I think Phil LeBow, might have the Ford numbers. I’m putting my money on blowout. . .I’m putting my money on Ford.”
6. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders In Q2 2025: 117
Thermo Fisher Scientific Inc. (NYSE:TMO) has been a frequent feature of Cramer’s morning and evening appearances in 2025. During several of these, the CNBC TV host has warned viewers against buying the stock until the firm’s China sales stabilize. He reiterated these concerns during this appearance as well:
“Look at Danaher, Danaher and Thermo Fisher have been just horrible stocks. Horrible. And they also you know, they had a lot of exposure to COVID. . .that’s Thermo. . .I will tell you that if Thermo, Marc, look I have to tell you that TMO, and Danaher were two companies that people revered, Carl, but they got all caught up in the fact that there were not a lot of new companies being formed. And they had China, China stopped spending on us. And obviously that was political.
Later during the day on Mad Money, Cramer went as far as to recommend Danaher over Thermo Fisher Scientific Inc. (NYSE:TMO):
“Oh yeah… they really got hurt by COVID. I gotta tell you, as good as Marc Casper is at Thermo Fisher, I’m still saying that Danaher’s better. They’ve both been in the same junk heap, and they shouldn’t have been. Danaher, I think, has got more going for it right now than Thermo Fisher. I would do DHR. That’s a club name.”
5. Danaher Corporation (NYSE:DHR)
Number of Hedge Fund Holders In Q2 2025: 115
Jim Cramer hasn’t held back when commenting on Danaher Corporation (NYSE:DHR) in 2025. Early in the year, he criticized the firm’s management for being “smug” on the earnings call despite having a bad quarter. This time, he discussed Danaher Corporation (NYSE:DHR) in the context of its China woes and shared the aftermath of his discussion with the firm’s CEO:
“Look at Danaher, Danaher and Thermo Fisher have been just horrible stocks. Horrible. And they also you know, they had a lot of exposure to COVID. . .that’s Thermo. . .I will tell you that if Thermo, Marc, look I have to tell you that TMO, and Danaher were two companies that people revered, Carl, but they got all caught up in the fact that there were not a lot of new companies being formed. And they had China, China stopped spending on us. And obviously that was political.
“But these were two, Danaher, I sat down with the CEO of Danaher out of, initially out of anger, because my charitable trust has completely been annihilated by that. I came away thinking that you know if I gave up on it, I’d be giving up at the bottom. And I’m beginning to think that’s proving to be the case. Stock was at 182 when I met him and I was just, fit to be tied. What does that mean?”
4. Affirm Holdings, Inc. (NASDAQ:AFRM)
Number of Hedge Fund Holders In Q2 2025: 70
Cramer had quite a lot to say about Affirm Holdings, Inc. (NASDAQ:AFRM) – the commerce platform and payments network operator. He praised the firm’s CEO and discussed recent share price movements:
“And I think Affirm is such a buy. I think that Max Levchin is terrific. By the way, they are the best single record on non-performers. They have almost like no non-performers, and that’s his algorithm. I bet on Levchin, I think that stock had such a big move. I’m betting it’s profit taking.
“I think it’s a certain particular kind of subprime that is masked. It’s hard to. find. I think that the Carvana recommendation today. Carvana has a company that has a lot, you’ve got buyers using credit for Carvana. That stock has not come down. I’m not as concerned. I know that when I looked at it yesterday people were selling Capital One off of it. I think that’s a mistake. . . and then Max Levchin is doing a tremendous job at Affirm. I think that guy is amazing. Takes a lot of business from the big retailers too.”
3. Capital One Financial Corporation (NYSE:COF)
Number of Hedge Fund Holders In Q2 2025: 132
Cramer’s comments about Capital One Financial Corporation (NYSE:COF) were built on his earlier remarks, where he had praised its Discover acquisition and CEO Richard Fairbanks. Previously, the CNBC TV host has gone as far as to suggest that the Discover acquisition could allow Capital One Financial Corporation (NYSE:COF) to create a payments network to rival major players such as Visa and Mastercard. This time, he mentioned the firm after discussing Affirm Holdings, as he commented that “people were selling Capital One” due to the weakness in Affirm’s share price:
“Capital One, uh seriously, the stock was down ten yesterday, it’s up 15 recommended at what. . .what did Wells Fargo recommend it? I think Capital One, you’re dealing with Richard Fairbank, he’s probably the foremost lender. Didn’t get hurt during the great period of 2007-9, came out, smelled like the roses, got Discover. I think that he, that stock there was a tremendous overreaction yesterday. I would buy it aggressively. Owned by the charitable trust. Aggressively buy it. Because his record of nonperformers is the best there is of the majors.”
2. Occidental Petroleum Corporation (NYSE:OXY)
Number of Hedge Fund Holders In Q2 2025: 64
Cramer discussed Occidental Petroleum Corporation (NYSE:OXY) after a Wall Street Journal report suggested that Warren Buffett’s Berkshire Hathaway would buy the firm’s petrochemical business. Berkshire confirmed the $9.7 billion deal the next day. The CNBC TV host commented that all oil companies were facing balance sheet tightness, and as per the Journal’s latest report, the deal will allow Occidental Petroleum Corporation (NYSE:OXY) to reduce its debt and focus on the oil business. Here is what Cramer said:
“[On WSJ’s report] Yeah this is a great business and OXY’s in no position to be able to just say hey listen we’ll give you the highest bid I don’t wanna do that. All the oil companies are very stretched right here. We don’t talk about it enough. Anybody that has a bad balance sheet, a lot of the natural gas companies even are down. We think that natural gas is the fuel of the future for the data centers.”
1. Jabil Inc. (NYSE:JBL)
Number of Hedge Fund Holders In Q2 2025: 52
Jabil Inc. (NYSE:JBL) is a contract manufacturer that is one of Cramer’s top stocks in the space. He defended the firm after its fiscal fourth quarter earnings report that was released on September 25th. Even though the shares fell after the report, Cramer continued to have faith in Jabil Inc. (NYSE:JBL) and ascribed the stock price movement to broader negative market sentiment. People were “throwing the good out with the bad,” said Cramer as he asserted that Jabil Inc. (NYSE:JBL) had a really good quarter. This time, he went a step ahead and called the firm one of the greatest technology companies out there:
“One of the greatest technology companies that people don’t talk about is Jabil. And they manufacture pretty much everything they don’t just do tech. I think they are one of the best judges of where you can make something, tariff or no tariff. And demand. I love them and have for a long time. They had a great quarter and the stock’s down and we’ll see if we can figure out what’s going on.”
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