13 Stock Predictions That Jim Cramer Got Completely Wrong

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 96

Cramer talked about Advanced Micro Devices, Inc. (NASDAQ:AMD) in the context of AI chip forecasts and investor disappointment. He noted that despite falling short of expectations, the stock had started rebounding and could present a buying opportunity. Here’s what he said back then:

“It’s true that AMD didn’t raise its forecast enough for next year’s ultra-fast graphics chips that that they think can rival Nvidia’s. They took numbers up to about 4 billion from 3.5 billion that they were projecting in January, but Wall Street already wanted at least 5 billion or even more. I think analysts got ahead of themselves. The stock during this period pulled back 38% from peak to trough, now it’s starting to rebound, it’s only at 14 bucks from its lows. That could be an opportunity.”

Turns out it wasn’t a good opportunity, as the stock has fallen by another 36.69% since then.

But Cramer remains hopeful about Advanced Micro Devices, Inc. (NASDAQ:AMD), the semiconductor firm known for its CPUs and GPUs, competing with Intel and Nvidia. Here’s what he said in late April:

“After the close, we want to hear great things about demand from Advanced Micro Devices, AMD. Perhaps we get the news that AMD’s selling that manufacturing part of the ZT Systems. That’s a company they acquired for $4.9 billion in cash and stock in March. Now that could give this stock a lot of juice.”