This article presents an overview of the 5 Best Jim Cramer Stocks To Buy According to Billionaires. To see more such stocks, click 11 Best Jim Cramer Stocks To Buy According to Billionaires.
5. Uber Technologies Inc (NYSE:UBER)
Number of Billionaire Investors: 23
Last month, Jim Cramer gave some bullish comments on Uber Technologies Inc (NYSE:UBER) while answering a question about Uber Technologies Inc (NYSE:UBER). Cramer said the company posted some “amazing numbers” for the recently reported quarter.
Uber Technologies Inc (NYSE:UBER) is all set to join the S&P 500 index later this month. Argus recently increased its price target on Uber Technologies Inc (NYSE:UBER) to $69. The firm praised Uber Technologies Inc’s (NYSE:UBER) cost-cutting measures which helped it swing to profitability.
“We note that Uber has significant size and scale advantages over Lyft and believe that it has moved past a multiyear period of operating losses. We also expect it to begin share buybacks,” Argus said.
Here is what Polen U.S. Opportunistic High Yield Fund has to say about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2023 investor letter:
“Uber Technologies provides ride hailing services to customers worldwide. The Company develops applications for road transportation, navigation, ride sharing, and payment processing solutions. Polen Capital originally purchased the 4.5% Senior Unsecured Notes due 2029 in our client accounts on the back of the Company’s new focus on profitability and free-cash-flow generation. Our view was that the Company’s credit metrics would improve over the next two-to-three years to levels on par with investment grade issuers. The Company’s fundamental profile has improved which resulted in spread tightening. Given the yield currently offered on the Notes, Polen Capital sold down its exposure and used the proceeds to purchase higher yielding debt instruments.”
4. NVIDIA Corp (NASDAQ:NVDA)
Number of Billionaire Investors: 29
Cramer has been praising NVIDIA Corp (NASDAQ:NVDA) due to its AI-fueled rally and long-term growth prospects. Cramer was excited about NVIDIA Corp’s (NASDAQ:NVDA) release of its latest chip H200 and said this is “the one everyone’s been waiting for.”
Cramer’s Charitable Trust has a stake in NVIDIA Corp (NASDAQ:NVDA), according to CNBC.
Billionaires are also piling into NVIDIA Corp (NASDAQ:NVDA) shares this year. Insider Monkey’s proprietary database shows that 29 billionaires had stakes in NVIDIA Corp (NASDAQ:NVDA). The biggest stakeholder of NVIDIA Corp (NASDAQ:NVDA) was Rajiv Jain’s GQG Partners which owns a $6.1 billion stake in NVIDIA Corp (NASDAQ:NVDA).
Here is what White Brook Capital has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes NVIDIA Corporation (NASDAQ:NVDA), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
3. Meta Platforms Inc (NASDAQ:META)
Number of Billionaire Investors: 32
Meta Platforms Inc (NASDAQ:META) is another stock Jim Cramer has been bullish on due to the AI-led rally. Earlier this year, Cramer said despite problems he stuck with Meta Platforms, Inc. (NASDAQ:META). When ChatGPT came along, it acted as a game changer and gave a boost to Meta Platforms Inc (NASDAQ:META) amid the generative AI boom. The stock has gained about 166% year to date through December 11.
As of the end of the third quarter of 2023, 234 hedge funds reported owning stakes in Meta Platforms, Inc. (NASDAQ:META). The biggest stakeholder of Meta Platforms, Inc. (NASDAQ:META) was Rajiv Jain’s GQG Partners which owns a $3.3 billion stake in Meta Platforms Inc (NASDAQ:META).
Here is what White Brook Capital has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Meta Platforms, Inc. (NASDAQ:META), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
2. Amazon.com Inc (NASDAQ:AMZN)
Number of Billionaire Investors: 33
Jim Cramer earlier this year said that Andy Jassy, Amazon.com, Inc. (NASDAQ:AMZN)’s CEO, is “back” and he’s in his “prime.” Jassy recently sat down with Cramer for an interview and they spent most of their time discussing AI and how Amazon.com Inc (NASDAQ:AMZN would benefit from the AI revolution.
Billionaires have been piling into Amazon.com Inc (NASDAQ:AMZN) shares this year. A total of 33 billionaires in Insider Monkey database had stakes in Amazon.com Inc (NASDAQ:AMZN) as of the end of the September quarter. Some notable billionaires having stakes in Amazon.com Inc (NASDAQ:AMZN) include Ken Fisher, Rajiv Jain, Philippe Laffont and Warren Buffett.
Here is what White Brook Capital has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Amazon.com, Inc. (NASDAQ:AMZN), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth.”
1. Microsoft Corp (NASDAQ:MSFT)
Number of Billionaire Investors: 34
Jim Cramer kept praising Microsoft Corp (NASDAQ:MSFT) this year. He’s excited about Microsoft Corp’s (NASDAQ:MSFT) AI offerings, including the Copilot product.
“I think it’s better to put Microsoft Corporation (NASDAQ:MSFT) front and center in AI. They’ve got a real AI product. That is definitely, as Citi says, ‘a rich catalyst.’” Cramer said in a program on CNBC.
Here is what White Brook Capital has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Microsoft Corporation (NASDAQ:MSFT), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
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