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“I’d Buy It Here,” Said Jim Cramer As The Goldman Sachs Group, Inc. (GS)’s Shares Fell

We recently published Jim Cramer Analyzed These 10 Stocks & Discussed Inflation. The Goldman Sachs Group, Inc. (NYSE:GS) is one of the stocks Jim Cramer recently discussed.

The Goldman Sachs Group, Inc. (NYSE:GS)’s shares fell by 1.9% during the day this show was aired. The dip was due to broader market pessimism about the US economy. Such moods typically trim bank stocks as investors become worried about loan recovery and a slowdown in mergers and deal-making activity. However, Cramer took the contrarian view and recommended that he’d just buy the stock at these levels. His comments built on previous remarks where he called The Goldman Sachs Group, Inc. (NYSE:GS) a “barometer” for the stock market. Here is what Cramer said:

“[On GS being the worst performing Dow name] Yeah my charitable trust owns Goldman, I’d buy it. I’d buy it here. They’re having a great quarter. I mean there’s so much M&A. Just over and over again there’s M&A.

“That’s profit taking because Goldman sells at maybe 14 times earnings. I’m not too worried about them. I really like that idea.”

Source: Pixabay

Cramer believes The Goldman Sachs Group, Inc. (NYSE:GS) is closely linked to the stock market as he recently remarked:

“The reason I brought it up instead of Rocket Mortgage is because Goldman encapsulates everything, IPOs, right, M&A, trading volume. This is the barometer for this stock market and it took off in a way that I haven’t seen in ages.

“I just wonder what the President thinks of Kostin. Because Kostin’s very good. . .no, no I think Kostin’s good.”

While we acknowledge the risk and potential of GS 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 GS 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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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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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.

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