Advanced Micro Devices, Inc. (AMD) Is Good But The Stock Shouldn’t Have Risen Recently, Says Jim Cramer

We recently published 12 Latest Stocks Jim Cramer Discussed. Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the stocks Jim Cramer recently discussed.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s AI accelerators are the only ones in the market that can cater to AI demand on a massive scale, except for NVIDIA’s products. Consequently, the firm’s shares have gained 47% year-to-date as Wall Street remains bullish on the long-term prospects of AI and Advanced Micro Devices, Inc. (NASDAQ:AMD)’s ability to cater to the demand. The ability of the firm to profit from AI demand was evident from the report that Cramer discussed:

“. . .there was a short story out there that NVIDIA’s gonna get late with the next chip which is the Vera Rubin, and therefore the MI450 by AMD is going to be in ascendance. The story was, I’ll just use a word that I think is really kind of indicative of where we are. It was a lie. It was a lie. . .it was untrue. And it caused a lot of people to buy AMD up nine and sell NVIDIA.

“I mean look, AMD is good but the idea that that stock should have run yesterday, off of Vera Rubin being late, was just, I don’t know spreads these things. I spend so much time shooting these things down. . .”

Here are his previous thoughts about Advanced Micro Devices, Inc. (NASDAQ:AMD):

“I think this is the pause that refreshes. I like the pullback. I’m surprised we’re even getting it. I think that Lisa Su has got something big going on with this MI400, that’s a competitor to NVIDIA. There’s room for them even if they do billions and billions of dollars in that category. They’ll get their fair share. I want you to buy some.”

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Disclosure: None. This article is originally published at Insider Monkey.