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 key role that OpenAI is playing in the AI ecosystem. He commented that figures such as the firm’s user base and exit run rate were just tiresome and added that OpenAI would be better off slowing down instead:

“When I hear OpenAI, that’s the one, they are the one, if they don’t deliver, it’s not just magical thinking that ends, it’s actually profits that end. They have to deliver. And the 800 million in users, I’m getting tired of that. The $20 billion exit run rate, they’re on the hook for, they’re on the hook for so much money, that I would feel better if they just slowed down. That would make me happier.”

The CNBC TV host also discussed a Goldman Sachs report mentioning the prospect of reflation on the back of stronger economic activity:

“I just don’t see it, I see, when you look at the components, we’re finally starting to get a peak in rents, those are starting to come down. We know that. We have a dramatic peak in used cars, I mean it’s just like a total fall off. We have energy that is down, natural gas is still plentiful enough that it hasn’t gone up a lot. We need to see steak come down, admittedly, the herd is where it was in 1951.”

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 November 12th.

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9. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders In Q2 2025: 105

Cramer discussed retail giant Walmart Inc. (NYSE:WMT)’s shares after the conversation shifted to consumer spending and the government shutdown. Along with Costco, the firm’s stock is one of his top picks in the sector. In his previous comments about Walmart Inc. (NYSE:WMT), Cramer has suggested that the firm can become one of the few dominant players in the sector due to its scale. The CNBC TV host recently discussed the firm’s potential to reach a trillion-dollar valuation as well. He put the odds at 10:1 due to Walmart Inc. (NYSE:WMT)’s recent run. In this appearance, Cramer shared that he wanted the stock to go higher:

“I would like to see Walmart. . .start going higher because that’s where people shop. But that hasn’t happened yet. . . .Look I wanna see things less heated in the data center and more heated with the consumer.”

As for whether Walmart Inc. (NYSE:WMT) can become a trillion-dollar company, here is what Cramer said on October 27th:

“Third, there’s Walmart. Now, currently, this is the closest company to the trillion-dollar level. It… [has a] $833 billion market cap. I’m putting its odds at 10:1. While I love Walmart, I love to shop there, I’m only making it my third favorite in this race because the stock’s had an incredible run, and get this, it’s trading at around 40 times earnings. That’s very high for any retailer, save Costco. Even Amazon only trades at 34 times this year’s earnings. Of course, Walmart’s made some major improvements, and the company’s massive scale allows it to cope with the tariffs better than nearly all of its competitors. But the stock, it’s just not cheap.”

8. Costco Wholesale Corporation (NASDAQ:COST)

Number of Hedge Fund Holders In Q2 2025: 91

Costco Wholesale Corporation (NASDAQ:COST) is one of Cramer’s favorite companies. He has regularly praised the firm in 2025, primarily due to its scale and ability to keep prices low in today’s inflationary environment. Cramer has kept the faith in Costco Wholesale Corporation (NASDAQ:COST) even though the shares are down by 6.7% over the past month. In his previous comments about the firm called it “the best buy in the industry.” Costco Wholesale Corporation (NASDAQ:COST) reported its October sales figure earlier this month, which marked an 8.6% annual jump to $21.75 billion. In this appearance, Cramer discussed Costco Wholesale Corporation (NASDAQ:COST)’s position in his charitable trust portfolio:

“I would like to see. . .Costco start going higher because that’s where people shop. But that hasn’t happened yet. Costco’s been a big disappointment for me right here, but I would never sell it. That’s probably the longest-running stock in my charitable trust. Look I wanna see things less heated in the data center and more heated with the consumer.”

7. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders In Q2 2025: 89

PayPal Holdings, Inc. (NASDAQ:PYPL)’s shares have lost 24% year-to-date. The latest dip in the stock came at October’s close after the firm reported earnings for its second fiscal quarter. While PayPal Holdings, Inc. (NASDAQ:PYPL)’s revenue of $8.29 billion and earnings per share of $1.40 beat analyst estimates of $8.08 billion and $1.30, media reports suggested that weak transaction margin dollars led to the shares dipping by 8%. For PayPal Holdings, Inc. (NASDAQ:PYPL), the transaction margin dollars represent the money it makes with each transaction after it has deducted the associated costs. When asked about the firm’s earnings in August, Cramer recommended other stocks, and in his recent remarks, he stressed that PayPal Holdings, Inc. (NASDAQ:PYPL)’s CEO had to deliver the numbers. His remarks during this appearance focused on the CEO as well:

“[On year-to-date performance and stock not coming around despite hopes] No and they got good CEO and it hasn’t meant that much.”

Here is what Cramer said about PayPal Holdings, Inc. (NASDAQ:PYPL) and its CEO on October 22nd:

“No, no, no, no, no, no. He has gotta start delivering numbers. I mean like I can’t, hey… the guy’s gotta start delivering numbers. That is often the case. It’s kind of like, you know, an NFL team. If they’re not delivering numbers, I’m not going to come here and say, boy, how about them Titans?”

6. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Holders In Q2 2025: 105

As Cramer briefly discussed PayPal, he also commented on financial management software and products provider Intuit Inc. (NASDAQ:INTU). The shares have gained a modest 4.3% year-to-date, and Cramer discussed the firm’s new product announcements. Intuit Inc. (NASDAQ:INTU) has been busy upgrading its products over the past couple of weeks. On October 28th, the firm announced the Intuit Accountant Suite, which enables users to make custom dashboards, close accounting books at scale, and use AI to generate insights. Cramer’s previous comments about Intuit Inc. (NASDAQ:INTU) have pointed flat out that the general perception is that the firm’s software-as-a-service business model isn’t working. SaaS stocks have struggled as investors wonder whether AI’s programming capabilities can allow these companies to sustain their business model. In this appearance, Cramer pointed out that Intuit Inc. (NASDAQ:INTU)’s stock just isn’t responding to the firm’s initiatives:

“Intuit just has a brand new program that I thought was very good. That has not done anything for the stock.”

5. Block, Inc. (NYSE:XYZ)

Number of Hedge Fund Holders In Q2 2025: 79

Block, Inc. (NYSE:XYZ) is a financial technology company known primarily for its Square and Cash App platforms. It factored into the discussion as Cramer discussed PayPal and Intuit and pointed out that neither was doing great on the stock market. Block, Inc. (NYSE:XYZ)’s shares have lost 28% year-to-date, making it another financial software and technology firm that has struggled in 2025. In his previous comments about the firm, Cramer hasn’t shared any love for the firm. For instance, in May, he commented that the firm should change its ticker to “SELL.” Block, Inc. (NYSE:XYZ) reported its third-quarter earnings earlier this month, which led to the shares dipping by 8%. During the quarter, the firm’s revenue was $6.11 while its earnings were $0.54. Both of these missed analyst estimates. Cramer was nonchalant about Block, Inc. (NYSE:XYZ):

“We know that Block, Square, whatever, not being, not that great.”

Here’s what Cramer said about Block, Inc. (NYSE:XYZ) in May:

“There’s a piece, an inpenetrable piece by Bank of America about, I mean I love NVIDIA. . .I couldn’t get through this one. I mean, come on, guys. Put in some, a little verbiage, like we saw on Square, now X, now XYZ, now Block, now Sell. They should change it into Sell. That would be good. SELL.”

4. Capital One Financial Corporation (NYSE:COF)

Number of Hedge Fund Holders In Q2 2025: 132

Unlike Block, Cramer has consistently praised Capital One Financial Corporation (NYSE:COF) over the past couple of months. Most of his praise has centered on the firm’s blockbuster acquisition of Discover Financial. Capital One Financial Corporation (NYSE:COF) bought Discover for a whopping $35.3 billion all-stock transaction. Cramer believes that the transaction will enable the firm to compete with payment giants Visa and Mastercard. He is also a fan of Capital One Financial Corporation (NYSE:COF)’s CEO,  Richard Fairbanks. Cramer also believes the stock should be at the $230 level. This time, he advised viewers to keep an eye on Capital One Financial Corporation (NYSE:COF)’s shares:

“I want everyone to watch Capital One, my charitable trust owns that. That’s the one we just saw delinquencies you know going up much higher for autos. Capital One’s become a much better lender but they charge a lot, let’s see how they do. It’s been a good run since they bought Discovery, I mean it’s been stalled for a long time now.”

3. CarMax, Inc. (NYSE:KMX)

Number of Hedge Fund Holders In Q2 2025: 54

CarMax, Inc. (NYSE:KMX) is one of the largest used vehicle retailers in America. November hasn’t been a good month for the stock as its shares tumbled by a whopping 24% during trading on the 6th after it announced that its CEO would step down. Alongside the announcement, CarMax, Inc. (NYSE:KMX) also shared its outlook for the fiscal third quarter. The outlook suggested that the firm expects to earn $0.18 to $0.36. The earnings guidance was sharply lower than analyst estimates of $0.36. As part of its release, CarMax, Inc. (NYSE:KMX)’s management asserted that as it searches for a new CEO, it will focus on sales growth and cost reduction. Cramer discussed the car market as he commented on CarMax, Inc. (NYSE:KMX):

“Now Carmax it turned out to be very poorly run and they misjudged the market badly. But they’ve created a wholesale auto glut, which is one of the reasons why, that’s in the CPI, rents, remember. . .”

2. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders In Q2 2025: 67

Logistics giant FedEx Corporation (NYSE:FDX) made news earlier this week after its CFO, John Dietrich, commented at a Baird industrial conference that it expected to improve profitability in its fiscal second quarter. The CFO revealed that FedEx Corporation (NYSE:FDX) expected adjusted earnings per share to sit at $4.05, which was higher than $4.02 of analyst estimates. Dietrich’s comments sent the shares higher as they assuaged investor worries about a slow holiday season in a year marked by tariffs and inflation. Cramer commented on FedEx Corporation (NYSE:FDX) in the context of investing in retail stocks and cautioned about interest rates:

“Well, I, I’m still very wary of going too much retail until I see better but FedEx was good yesterday.

“Look, the best thing I saw yesterday was Raj, was at FedEx, I thought that was great. Because FedEx is the economy. That made me feel better. . .but let’s just be careful, because we need, we need lower rates.”

1. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders In Q2 2025: 85

Cramer has started to frequently discuss semiconductor manufacturing equipment provider Lam Research Corporation (NASDAQ:LRCX) recently. He believes the high demand for HBM memory chips will help the firm and reiterated the opinion in this appearance as well:

“Now I’m trying to distinguish between the companies that are making a lot of money and the companies that are just having some revenues and not making money at all. Citi takes Lam Research from 175 to 190. They make a lot of the equipment that you need in order to be able to have high bandwidth memory which is huge in the data center. And they are extremely profitable, and I think that’s a great call. That I like. I just want to buy companies that are lucrative at this phase of the cycle.

“Look, Lam is going to have orders as far as the eye can see. They can’t make it up. No one thought that there would be this much demand for high bandwidth memory, and, Micron kind of thing. And I just say, okay well there’s a winner.

“Lam has taken the, Tim Archer, he took a couple of billion dollar hit. And so yo’re de-risked from China and the orders just keep flowing, it’s a great company. I remember when it was. . .Novellus was, the guy who runs it now, Tim Archer, is from the Novellus side, I like him.”

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