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Buy Abbott Laboratories (ABT) If You’re Worried About COVID, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Warned About Big Risk To Big Tech. Abbott Laboratories (NYSE:ABT) is one of the stocks Jim Cramer recently discussed.

Abbott Laboratories (NYSE:ABT) is one of the largest pharmaceutical companies in the world. Its shares have gained 17% year-to-date and have recovered all of their losses since an 8% drop in July. Abbott Laboratories (NYSE:ABT)’s shares fell in July after investors punished the firm for apparently keeping its guidance unchanged. With reports of a new variant of COVID, Cramer has started to wonder whether Abbott Laboratories (NYSE:ABT) might be the right play, especially due to shifting government policies on vaccines:

“. . .the thing that is fascinating to me is if you really felt that this was bad and there was going to be another wave of COVID, then you should be buying Abbott, Binax. That is not working as a trade, I got that but it has hurt you, the stock’s up like 30 cents. But I think that these are very politicized. You heard from RFK, it’s a very small group of people who I guess should we say have to worry about it.”

Pixabay/Public Domain

Cramer also mentioned Bnax in an earlier appearance:

“You know what, my colleague Jeff Marks said this could be good for Abbott. The Binax. Cause it looks like you know if you’re not going to give the COVID vaccine then a lot of people maybe you need the test. So maybe you buy Abbott off the Binax. I don’t know. I think Abbott’s much more of a. . .”

While we acknowledge the risk and potential of ABT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ABT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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