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 the 2026 PJM Load Forecast Report by the PJM Resource Adequacy Planning Department. The report revealed that the “2026 Long-Term Load Forecast is lower than the 2025 Long-Term Load Forecast in the near term through 2032 due to updates to the electric vehicle forecast, economics and large load adjustments,” and the CNBC TV host was surprised by the data. “This is sixty million more than payers and it says the 2026 long term load forecast is lower than the 2025 long term forecast, lower,” he commented.
The conversation then shifted to the market. Cramer pointed out that little-known companies were leading. Looking at the data, the Russell 2000 stock index is up by 6% year-to-date while the flagship S&P 500 index is down 0.60%. Commenting on the performance, Cramer remarked:
“The overall market is being led by companies we’ve never heard off, Russell. When you go down, what you see are, you know you’re seeing flying helicopters and drones and you’re seeing tertiary companies that make power plants. And you’re seeing things that will never come to. fruition, Oklo. But you know, Oklo, Sam, Sam’s there.”
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 January 16th. 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).
15. Micron Technology, Inc. (NASDAQ:MU)
Number of Hedge Fund Holdings: 105
Micron Technology, Inc. (NASDAQ:MU) has quietly emerged as one of the top semiconductor stocks in the market. Its shares are up by a whopping 231% over the past year. Micron Technology, Inc. (NASDAQ:MU) is the only American company capable of manufacturing high-end memory chips and is a key supplier to NVIDIA. Barclays substantially increased the share price target to $450 from $275 in mid-January and kept an Outperform rating on the shares. The financial firm pointed out that it believes Micron Technology, Inc. (NASDAQ:MU) can continue to benefit from growing AI demand in 2026. Cramer is also quite bullish on the stock, and in this appearance, he commented that the firm’s CEO was too modest:
“Last year at this time, Micron had a big miss. They projected wrong. They projected too much, they had a lot of inventory. Obviously since then, amazing things have happened. But, this shortage, is the making of the market. Sanjay, I was very bullish a year ago, I came on this show and said some things about high bandwidth memory. That were, aggressive. And Sanjay called me, and told me I was too bullish. And I look back, he was too bearish. But he had the shortfall. Cause he had too much inventory. I want people to understand what happened. This is not a shortfall that was manufactured in order to raise prices. It wasn’t manufactured at all. There was no way you could see this. . .look, here I’m looking at, this is from 2024. We expect industry DRAM bit demand growth to be in the high teens. No, it’s in the 20s. I mean he said that bit supply growing roughly in line with bit demand, that was wrong. NAND bit demand growth in calendar 2024, 2025, now low double digits, completely wrong. And I’m not saying that means that Sanjay was not good, he was the best, he was the best and he got it wrong. I think that’s the point.”
Baird Chautauqua International and Global Growth Fund also mentioned Micron Technology, Inc. (NASDAQ:MU) in its third quarter 2025 investor letter:
“Micron Technology, Inc. (NASDAQ:MU) raised its 4Q guidance for revenues, earnings, and margins, reflecting improved pricing, particularly in DRAM. There is strong AI data center demand for high-bandwidth memory, with CY26 capacity already fully sold out. Guidance for the next quarter is above consensus.”
14. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holdings: 234
NVIDIA Corporation (NASDAQ:NVDA)’s shares are down by 1.3% year-to-date. RBC Capital set an Outperform rating for the stock and a $240 share price target for the firm in mid-January. Some of the factors that the financial firm discussed as driving its optimism included a $500 billion backlog, strong AI demand, and a sizable ecosystem. Cramer has also regularly discussed NVIDIA Corporation (NASDAQ:NVDA) over the past couple of months. Even though the shares have performed sluggishly, the CNBC TV host has asserted that the semiconductor company will continue to perform well due to the sizable demand for its processors. Along with RBC Capital, Wolfe Research also kept an Outperform rating on NVIDIA Corporation (NASDAQ:NVDA)’s shares in January. The financial firm kept a $250 share price target and discussed the impact of China H200 GPU shipments. Cramer mentioned the firm’s CEO, Jensen Huang:
“Jensen knew, Jensen saw it coming. People should have listened to Jensen Huang. They should have listened to him. They didn’t.
“Jensen, people thought, at GTC, the conference where he laid out things. That he was way too bullish. That he was frankly, dreaming with the Vera Rubin. Dreaming, dreaming with the Feynman. That’s the next. And he saw it, but he would tell you, my job, I see things out 20 years and then I work backwards. Now don’t forget, Jensen, he is going tell you, that with the work that David Ricks and he’s doing at Lilly, being a 100. . .I wanna point out that Jensen did and others didn’t, he understood the demand. He went to Taiwan Semi and they believed in him.
“. . .but again, it does not have the power of what we just saw, Sanjay Mehrotra. . .because people don’t believe, the companies that are going to buy the chips, are going to build all that you are talking about. Remember you said they won’t build? NVIDIA needs everybody to build. One of the reasons why Jensen was out with the drug companies, at the healthcare conference, he needs to have the more than just the hyperscalers want chips. And he’s doing it. The demand was great, Taiwan Semi did not single them out by name.”
Giverny Capital Asset Management also mentioned NVIDIA Corporation (NASDAQ:NVDA) in its third quarter 2025 investor letter:
“I will end with a note of caution. While I am excited over TSMC’s prospects, I also perceive that enthusiasm over Artificial Intelligence has reached a level of euphoria. In late September, NVIDIA Corporation (NASDAQ:NVDA) announced a deal in which it would invest $100 billion in Open Al, the developer of ChatGPT. Open Al will use that money to buy Nvidia chips to use in new data centers. Nvidia essentially is financing a customer who might not otherwise have the capacity to buy $100 billion of Nvidia chips. Nor does the customer have a proven business model: Open Al is expected to lose $14 billion in 2026. Nvidia has done similar deals with other start-ups, most notably CoreWeave.
Maybe I’m just getting cranky, but these circular arrangements recall for me the dot com boom at the end of the 20th Century, when Lucent and Nortel financed start up customers who were building out communications infrastructure. While that infrastructure became the backbone of the Internet economy, many of the infrastructure pioneers went bankrupt along the way, as did Nortel, Lucent went from reporting a $4.8 billion net profit in 1999 to cutting its workforce by 80% and being acquired cheaply by the French company Alcatel in 2006…” (Click here to read the full text)
