Jim Cramer, the host of Mad Money, said Monday’s market decline showed just how vulnerable stocks have become amidst anxiety about artificial intelligence.
Today, we got a glimpse of an ugly future, a world where we run out of white-collar jobs because artificial intelligence destroys employment as we know it… Frankly, I don’t believe that AI will wipe out the white-collar workforce. Let me give it to you straight, though, because I don’t think the narrative you’re going to hear about today is going away. I think it will hurt the price-to-earnings multiples, what we pay for a host of stocks, causing them to drop without seeming, well, let’s say, anything being wrong.
READ ALSO Jim Cramer Looked at These 19 Stocks Recently and Jim Cramer Commented on These 14 Stocks
Referring to a post from Citrini Research and Alap Shah titled “The 2028 Global Intelligence Crisis,” Cramer described the work as a dystopian storyline and said the idea of an approaching global intelligence crisis felt like a stretch.
Here’s the bottom line: There’s just too many things that can go wrong if we buy the wrong stocks. Don’t I know it? We own some of the wrong stocks for my Charitable Trust. We’ve made some sales, but I can’t help but grow more pessimistic… when I see how easily a piece of science fiction can crush the market as if it’s science fact. It’s a way more difficult market than many of you think. Let’s be more cautious. We have to be after what we saw today.
Our Methodology
For this article, we compiled a list of 17 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on February 23. We listed the stocks in the order that Cramer mentioned them.
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).
17 Stocks That Were on Jim Cramer’s Radar Recently
17. Chevron Corporation (NYSE:CVX)
Chevron Corporation (NYSE:CVX) is one of the stocks that was on Jim Cramer’s radar recently. A caller asked if they should take profits or wait for the stock to go up more. Cramer replied:
I think it can go up a lot. I think that Chevron has the 3.85 yield. They’ve always been a big believer in that, in making that dividend big. Mike Wirth’s doing really well. I would hold on to that.
Chevron Corporation (NYSE:CVX) is an integrated energy company that explores, produces, refines, and markets oil, natural gas, and petrochemical products. Cramer mentioned the stock as he presented his game plan during the January 23 episode and said:
We also have two oils: Chevron and Exxon. Both throw off a lot of cash. I like Chevron, with its big buyback and its 4% yield. It’s been my favorite for a very long time because it’s so darn consistent. And now you have a possible Venezuela kicker as they’re doing business there right now, all through this regime, and they know what needs to be done.
16. Rambus Inc. (NASDAQ:RMBS)
Rambus Inc. (NASDAQ:RMBS) is one of the stocks that was on Jim Cramer’s radar recently. When a caller asked about the stock, Cramer remarked:
Oh, yeah, Rambus has not kept pace. It’s not kept pace with the others. I think you could, in that space, I do prefer Texas Instruments. I think that they are a better buy as is Analog Devices.
Rambus Inc. (NASDAQ:RMBS) develops memory interface chips and silicon IP that help systems move and secure data more efficiently. During the January 7 episode, a caller highlighted that they have had a position in the stock for years and asked Cramer if they should consider more. The Mad Money host responded:
You know, it always had great technology. It always has. I always keep waiting for that like an explosive move…. you know what? It’s not that expensive versus growth. I’m going to, I’m going to bless it for you. You’ve obviously done some homework, and you’ve been around for a long time. You know it’s a good one.
