14 Stocks Jim Cramer Discussed As He Went “All In” On Quantum Computing

In this piece, we will look at the stocks Jim Cramer recently discussed.

In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer discussed the potential of European countries to levy restrictions or fines on American companies. Cramer directed the question at Commerce Secretary Howard Lutnick as he asked:

“I am very concerned that if there’s no deal with Europe, what they’ll do to our service companies, it’s the only thing that they’re ever really doing. Take from us anyway. How do we protect these great American companies?”

In response, Lutnick outlined that the Trump administration had already managed to get rid of such taxes in Canada, and they were part of the trade negotiations with Europe:

“They attack our great tech companies every day. They have this DSD. . .Digital Markets Act, also another tax on American technology. And so, we’re trying to beat that back and in these trade deals, we talk about it. Look, we think it’s reasonable that these companies pay fair tax in Europe. But we’ve got to stop this onslaught, this regulatory onslaught of our tech companies. And Donald Trump’s got these tech companies’ back. And we are working on it. You saw it, we got rid of it in Canada, we got rid of it in all sorts of countries. They knock it down, that’s one of our key objectives.”

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 July 24th.

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).

14. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders In Q1 2025: 227

Cramer regularly discussed tech mega-cap Alphabet Inc. (NASDAQ:GOOGL) ahead of its earnings. The firm’s shares have reversed course in July and are up by 1.9% year-to-date, primarily due to July’s 9.9% gain. Before the report, Cramer was explicit in sharing that he regretted selling Alphabet Inc. (NASDAQ:GOOGL)’s stock. This time, he discussed the firm’s businesses and shared that the stock should be higher after the earnings:

[GOOGL]”[On earnings report] Yeah, look cloud was important. I think the big focus is frankly, uh, that paid clicks picked up 4%. I mean I was thinking paid clips might be down, I was worried that I felt that this was the beginning of the erosion and the cannibalization versus Gemini. That was completely wrong. YouTube up 200 million. Really, really fantastic. . . .Look the story here is this that the more chips that they get, better they’re doing. They have so much demand I was quite surprised.

“Oh my god, YouTube’s got a great subscription model. We don’t think it, but we should We’re making a mistake. That’s [the] number one subscription model.

“If you’re an advertiser, and you’re on this call, you say I’m gonna send a check to Zuckerberg, in order to be able to be in Insta, I’ll send a check to these guys. . . it is extraordinary, I misjudged this one. I had no idea.

“This stock should be up much more than that.

“[On whether there was still risk from the Justice Department] Yes it is. And I bought into that nonsense, and where did it get me? Out 20 points ago! I will tell you, Philipp Schindler is the guy to listen to. He is the guy. He was the star of this conference call. I mean 54 billion dollars for Search? You should listen to Schindler. He’s the man.”

13. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders In Q1 2025: 212

After bleeding close to $600 billion in market value in January amidst the DeepSeek selloff, Wall Street’s AI chip darling, NVIDIA Corporation (NASDAQ:NVDA) is once again the most valuable company in the world. The firm has benefited from growing investor bullishness about the long-term prospects of AI. NVIDIA Corporation (NASDAQ:NVDA)’s shares closed the week 1% higher after big tech’s continued persistence to spend billions of dollars to buy AI chips. Cramer discussed the impact and the CEO’s relationship with President Trump:

“All CapEx go up, it’s all NVIDIA. . .it’s really good for NVIDIA. But of course, NVIDIA, the President talking about breaking them up, we’ll get to that later. It was an out of body comment.

“I’ll tell you that Jensen, the President has a good relationship with Jensen, it’s not like Elon Musk. It’s just, we want this man to do what he wants to do.”

Previously, the CNBC TV host commented on NVIDIA Corporation (NASDAQ:NVDA)’s shares and parabolic moves:

“What is the solution to this? Look, in my forthcoming book, How to Make Money in Any Market, I have banished my antiparabola bias. I have a method I reveal of picking five stocks to go alongside an index fund with some money added each month. I state point blank that if you are in your 30s or older, you should own one speculative situation like an Oklo, okay, or a Joby. Just one. It could fail you after going parabolic. Moreover, if you’re under 30, you can pick two speculative names out of five because you’ve got enough time to make back any potential losses.

Now, you may think I’m reckless for endorsing any of these even with caveats, but it’s time to admit that for many years now, speculative stocks with great growth, they’ve worked. Oh, and let’s not forget, they don’t have to stay speculative. NVIDIA stock has had many parabolic moves, including the one that started in April. To keep yourself out of these runs because of a principle that stopped working ages ago, that’s to be blind to change, and I don’t like it. I don’t want to be that way.”

12. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders In Q1 2025: 104

Tesla, Inc. (NASDAQ:TSLA) continues to face a horrible time on the stock market in 2025.  The firm’s shares have lost 16.7% year-to-date and fell by 8.2% after its latest earnings report, which missed analyst revenue and earnings estimates. The results were so bad that even Cramer, who believes that Tesla, Inc. (NASDAQ:TSLA)’s potential is in emerging technologies such as robotics, was forced to do somewhat of a turnaround:

“[on revenue, vehicle sold, carbon credit all down] Okay, so you listen to the conference call, and they made it so that those don’t matter. All that matters is self drive, autonomous. I’m not kidding. Robotaxi, uh, Austin, California. And then there’s some lines, which says, where he’s saying, and David you’ll get a kick out of this I’m sure, he’s talking about like in a few years like everyone’s gonna be in this. The robotaxi’s like going great. I mean, it’s not doing anything. This was a call that was a fatuous call. David, I left out Turkey, number one. Netherlands and Austria. I knew that Austrian market, that was it.

“Again, this was a call where I wanted to say, not unlike in Succession, you are not serious people. Because he’s pivoted to only talking about robotaxi, how everyone could be self-driving. They have the best software. No, no, their car sales are falling off a cliff, it does matter!

“Well they don’t regard, it’s like the Green Bay Packers stock, no one’s gonna do that. They love it.

“Okay David, listen to this. Autonomous ride hailing is going to be, they’ll probably have autonomous ride hailing in probably half, half of the population of the United States, when? By the end of the year! The big takeaway is Turkey.

“It’s a cult stock. . . This was not the kind of conference call that I expected. I did not expect an immediate pivot to robots and the self driving and the robotaxi.

“It was bad but I’ve got to tell you, I’m buying the robots, he’s got the robot.

“[On Trump’s Truth Social post] Well I think that you need some, you need someone saying something good. Might as well be the President cause I really didn’t hear anything on the conference call that gave me. Look I’m really pro with the tech side, not with the auto side. But David, it’s probably positive he doesn’t want to destroy Musk, don’t you think?”

11. Dow Inc. (NYSE:DOW)

Number of Hedge Fund Holders In Q1 2025: 43

Dow Inc. (NYSE:DOW) is one of the largest chemical companies in America. The firm’s shares have lost 35% year-to-date, primarily on the back of a massive 26% selloff in April after President Trump announced his Liberation Day tariffs. Dow Inc. (NYSE:DOW)’s shares suffered another setback in July after they dipped by 17.5% after the firm’s latest earnings report, which saw the firm guide third quarter sales at $10.2 billion, which was lower than analyst estimates of $10.6 billion. Dow Inc. (NYSE:DOW) also slashed its dividend, and here’s what Cramer said about the firm after the disastrous earnings report:

“But then, Dow Chemicals, just, Dow, no longer Dow Chemicals. The chemicals are bad. The plastic is bad. So Jim Fitterling had to cut the dividend. I had said that this could happen. I didn’t want it. But it’s lower for longer, for three years, it’s a very unusual negative cycle. And I’ve got to tell you, for all the good news we hear about the industrial economy, it’s not helping.

“[On why the industry is struggling] China dumping. The pricing, the first month was good, but then on Liberation Day, pricing fell apart. There’s no coming back. It’s really a shame because Jim Fitterling is a good CEO, but wow.”

Previously, the CNBC TV host commented on Dow Inc. (NYSE:DOW)’s dividend yield:

“9%, see I looked at that today. There were a bunch of guys who cut the price targets. I said to myself, wow, 9%… I have to take a pass because it means that there’s something awry.”

10. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders In Q1 2025: 75

Honeywell International Inc. (NASDAQ:HON) is one of the biggest industrial conglomerates in America. Its shares are flat year-to-date after a major 6% dip in July after the latest earnings results. The shares fell because despite the fact that the firm reported $10.4 billion in sales and $2.75 in EPS to beat analyst estimates of $10.1 billion and $2.66, investors were looking for a robust earnings performance to drive its guidance raise. Here’s what Cramer said about Honeywell International Inc. (NASDAQ:HON) after the earnings:

“Okay, so Honeywell is splitting into three different companies. Some people feel that the cash flow is weaker, uh, I don’t feel that this is nearly as and. . .I think you buy Honeywell. Only one division was weaker. This was automation. The stock tends to sell off when they report. And then it spends the next three weeks recovering. I think Honeywell is fine. Charitable trust owns it, it’s a big win. It will continue to be a big win.  This is a major overreaction to something that shouldn’t be happening. Right now, shouldn’t be happening. Down 15 you buy it.

“[On guidance raise] Yes that’s what matters. And people just always seize at whatever’s most negative. They’re breaking up into three companies. He’s bringing out value. This is very short sighted. Vimal Kapoor doing a great job. Buy the stock. Overreaction to something that’s not even negative for heaven’s sake. Unbelievable how poorly the stock acts on the day it reports and then it spends the rest of the time, climbing. Buy it.”

9. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders In Q1 2025: 57

International Business Machines Corporation (NYSE:IBM) is one of Cramer’s favorite technology stocks. Throughout this year, the CNBC TV host has expressed optimism about the firm’s CEO and the firm’s consistency in winning contracts for its enterprise computing business. International Business Machines Corporation (NYSE:IBM)’s shares fell by 7.6% after the firm’s latest earnings report saw software revenue of $7.39 billion miss analyst estimates of $7.43 billion. Cramer discussed the earnings report:

“Most of the news is good this morning, IBM. I still think not as bad, uh, Chipotle we have to talk about.

“People felt the software was slower. I think they’ve got this great mainframe cycle. I don’t think you abandon the stock at all. This is another one, classic overreaction, has a higher P/E multiple than it did.”

Previously, he discussed potential future International Business Machines Corporation (NYSE:IBM) share price movement:

“Oh, I like IBM very much. I mentioned Ben Wright earlier. I think that Ben, he’s really turned me on to this stock. We did a very positive piece about it. I think it goes, I’m going to say not much higher but creeping higher over time, and that’s actually a great place to be. So I like IBM.”

8. Dover Corporation (NYSE:DOV)

Number of Hedge Fund Holders In Q1 2025: 53

Dover Corporation (NYSE:DOV) is an industrial machinery company. Cramer’s comments about the firm came in the context of industrial stocks and Honeywell’s share price movement after its latest earnings. Honeywell shares dropped as investors wondered whether the firm would experience business health in 2025, and Dover Corporation (NYSE:DOV)’s shares dropped by 2.2% after the firm’s second-quarter earnings. The stock fell despite a revenue and earnings beat, which led Cramer to criticize the sellers:

“And I’m going to throw in a third one. Dover. With another unbelievable quarter. Very big guide up. Stock is down. Whoever is selling these, things Carl, they’re not trying to paint the tape. They just don’t understand how stocks work. Because we have real major industrial companies that are doing incredibly well. And it’s almost like if they’re not merging, we don’t want to own them, if they’re not AI, we don’t want to. own. They’re other things worth owning. . . Dover’s worth buying, right here. . . Dover, Honeywell beat and raise.”

Cramer recently discussed Dover Corporation (NYSE:DOV)’s exposure to data centers. Here’s what he said:

“No I mean data centers are the story again. Pennsylvania data centers. The building of them would be CoreWeave, the President’s going to Pennsylvania. Pennsylvania being a hub for all these. Everyone wants to play the parts of data center again. It really cooled in April. No one cared. The stocks got killed. . .I think that you can go back to these stocks. . .You just want to own Dover which is a stock we own for the charitable trust, besides Eaton which is there. You want to be there again, because the building is continuing and I just feel like, wow it’s a pretty good time.”

7. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders In Q1 2025: 75

T-Mobile US, Inc. (NASDAQ:TMUS) is an American telecommunications carrier whose shares have gained 10.9% year-to-date. The shares jumped by 6.1% in July after the firm’s latest earnings report saw its $21.13 billion in revenue and  $2.84 in EPS beat analyst estimates of $21.04 billion and $2.68. Another reason why T-Mobile US, Inc. (NASDAQ:TMUS)’s shares rose was due to its 830,000 postpaid additions beating analyst estimates of 700,300. Here’s what Cramer said:

“That was a nice quarter.

“The EBIDTA is incredible. Plus six percent.

“How about that 5G broadband customer additions? Oh my.

“These guys are so good at what they do. And in the face of I don’t know who’s losing share.”

Previously, Cramer discussed T-Mobile US, Inc. (NASDAQ:TMUS)’s share price movements:

“Here’s one [that’s] a little surprising. Keybanc puts out a very cogent piece about how T-Mobile is fiber-deficient. And they think that the consumer value proposition has deteriorated rather rapidly. Downgraded to Underweight. And the stock has been weak. But this is a, in many ways you read this and you think oh my bad, now I know why it’s going down. Which will mean that it’s got much further to fall.

“. . .But, look what can I say, T-Mobile has been a huge, huge winner. Sievert is a winner. And before that Legere was a winner. But now the stock acts quite badly, and now we know. It’s good to know the reason.”

6. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders In Q1 2025: 87

AT&T Inc. (NYSE:T) has been performing well in 2025. Its shares gained 22.7% year-to-date on the back of multiple factors such as robust subscriber additions. The stock gained 2% after the latest earnings report, which saw AT&T Inc. (NYSE:T) add 401,000 wireless subscribers to smash analyst estimates of 295,700 out of the park. The firm’s strong performance made Cramer wonder how all three mega American carriers could simultaneously perform well, as logically, someone has to lose share for the others to thrive:

“But David, AT&T, has someone downgraded AT&T? I thought that AT&T was good. But how can AT&T and Verizon and T-Mobile do well?

“These guys are so good at what they do. And in the face of I don’t know who’s losing share.”

Cramer recently discussed AT&T Inc. (NYSE:T)’s stock in comparison to T-Mobile:

“You know, people like ATT. And I’m not against it. I like ATT, too. But, look what can I say, T-Mobile has been a huge, huge winner. Sievert is a winner. And before that Legere was a winner. But now the stock acts quite badly, and now we know. It’s good to know the reason.”

5. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders In Q1 2025: 81

Blackstone Inc. (NYSE:BX) is an alternative asset manager whose shares have gained a modest 2.5% year-to-date. The stock has gained primarily due to the firm taking advantage of the growth in deal making in 2025 and making large acquisitions such as that of TXNM, an electricity provider in Mexico and Texas. Previously, Cramer has commented that he likes Blackstone, and this time, he commented on the firm’s CEO commenting that he was seeing the biggest forward IPO pipeline in four years:

“[On CEO saying biggest forward IPO pipeline in four years, the dealmaking pause was behind the firm] It was very good. Jonathan Gray was very good this morning. He also said great stuff about data centers.”

After word spread about Blackstone Inc. (NYSE:BX) acquiring TXNM, here’s what Cramer said:

“We know Blackstone has a lot of data centers. We know TXNM is in the area with a lot of data centers. I still think this is motivated by the need to have cheap power. Although remember, they are not a generator.

“I think it just a great acquisition. I think all the companies that are in the business of low power, low cost power, which is in say Texas, good place, it’s a great business to be in. And John Gray who runs Blackstone, knows that this is just a, that their own data center company might be worth the price of Blackstone.”

4. Chipotle Mexican Grill, Inc. (NYSE:CMG)

Number of Hedge Fund Holders In Q1 2025: 78

Chipotle Mexican Grill, Inc. (NYSE:CMG) has appeared on Cramer’s morning show several times in 2025. He has praised the firm’s CEO, Scott Boatwright, commented on high menu prices, and outlined that he prefers Texas Roadhouse instead. This time, Cramer didn’t hold back after Chipotle Mexican Grill, Inc. (NYSE:CMG)’s latest earnings results:

“[On how year-to-date losses were getting material] Yeah, 4%, minus 4% comps, now they did try to put a good face on by saying that, the cadence was better. Otherwise, the stock would probably be down ten. But there was a moment on the call which was just very, very painful. Scott Boatwright talked about what the other guys were doing, the five dollar meal. Well I don’t want to hear that. Cause the five dollar meal is not anything I ever want to eat. But at the same time he goes like, look with our competitors with snack occasion of five dollar meal, that’s where the consumer is drifting. Towards value as a price point. Wow. I never know that this was a situation that McDonald’s versus Chipotle. Now there’s McDonald’s down here in the scrum and Chipotle’s up here. But that showed, either there’s something structurally wrong with the company or they got to rethink about their pricing. I was disappointed.

“[On whether the troubles were a reflection of poor management] I don’t want it to be. I like him very much. That line was abhorrent. I didn’t want to hear it. That the five dollar meal company that you would never eat at, cause it’s just chemicals, is beating a company that’s clean. That’s how I felt.”

3. Union Pacific Corporation (NYSE:UNP)

Number of Hedge Fund Holders In Q1 2025: 85

Union Pacific Corporation (NYSE:UNP) is one of the largest railroad companies in America. The stock has been a central part of Cramer’s morning show after co-host David Faber became the first to speculate that the railroad industry could experience mergers due to the business environment in the Trump administration. During this appearance, Faber discussed reports about Union Pacific Corporation (NYSE:UNP) and Norfolk Southern in the advanced stages of a business competition. Faber shared that any deal would spur competitors to take similar action. As for Cramer, here’s what he said:

“[On talks of a merger] 5 year pledge to not raise prices, deal gets done.”

Cramer previously discussed railroad giant CSX merging with Union Pacific Corporation (NYSE:UNP):

“CSX is going to merge with Union Pacific, am I off the rails? I am in charge of the rails. It’s just the way, the people refuse to believe that this is a different government.”

2. Norfolk Southern Corporation (NASDAQ:NSC)

Number of Hedge Fund Holders In Q1 2025: 49

Norfolk Southern Corporation (NASDAQ:NSC)’s shares have gained 20% year-to-date and are up by 8.5% since mid-July due to chatter of mergers in the railroad industry. During this episode, Cramer’s co-host David Faber discussed reports of Norfolk Southern and Union Pacific merging. Faber outlined that issues in the railroad industry, such as streamlining traffic flows through the Chicago interchange and the handoff of significant volumes in Chicago yards, were driving incentives for railroads to merge. For the deal to proceed, here’s what Cramer believes:

“[On talks of a merger] 5 year pledge to not raise prices, deal gets done.”

Cramer discussed how Norfolk Southern Corporation (NASDAQ:NSC) might be ripe for a deal:

“I think that Norfolk Southern could be vulnerable.”

1. IonQ, Inc. (NYSE:IONQ)

Number of Hedge Fund Holders In Q1 2025: 28

IonQ, Inc. (NYSE:IONQ) is a quantum computer company. The shares are flat year-to-date as they have barely recovered their 44% drop in January. IonQ, Inc. (NYSE:IONQ)’s shares sank back then after NVIDIA CEO Jensen Huang posited that quantum computing development was in the nascent stages. In his previous remarks about IonQ, Inc. (NYSE:IONQ), Cramer has remarked that it takes a lot of homework to understand quantum computing. This time, he took the first step in this direction:

“My first quantum company. I’m going all in on what youth wants. They inherit the earth, I have the heart of darkness. I’m trying to get away from that. When Jensen switched and said he’s in on quantum, who am I to say, that the man who the President thought about breaking up the company but said it was too great, I’m going all in quantum.”

Here are Cramer’s previous remarks about IonQ, Inc. (NYSE:IONQ) and other quantum computing stocks:

“Finally, we’ve got the ones that I find as most controversial, quantum computer plays. These stocks are insanely popular among young people, trading tens of millions of shares today. IONQ, D-Wave Quantum, Rigetti Computing, Quantum Computing, they’re incredibly popular. IONQ traded 30 million shares today, D-Wave Quantum traded 60 million shares today, Rigetti 61 million shares, Quantum Computing, 65 million shares. That is insane. Not the volume, but the fact that there’s so much demand for these stocks, yet most of the media and the financial industry pretend they don’t exist.

I don’t want to do that anymore. Of course, there’s very little known about them and little analyst coverage. You have to do an immense amount of homework to figure them out. And after all that work, you might just discover it’s meaningless because quantum computing, like nuclear power, is years away. But you know what? It’s worth the effort. It’s worth my effort. There are so many of these companies and so much opportunity for the one or two that actually make it.”

While we acknowledge the potential of IONQ to grow, 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 AI stock that is more promising than IONQ and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.