Jim Cramer Contradicts UBS Downgrade of Nucor

Nucor Corporation (NYSE:NUE) was among the stocks on Jim Cramer’s Mad Money radar as he discussed the recent sell-off in AI-related stocks. Discussing the company’s recently reported quarter, Cramer said:

Look at Nucor go. Last night, the biggest and best steel maker in America reported an amazing set of numbers that kind of blew me away, frankly. Nucor delivered a 42-cent earnings beat off a $2.81 basis, higher than expected sales, up 21% year over year. Now, that’s not just from tariff-induced higher pricing… It’s also, it’s extremely high demand. Nucor had record quarterly shipment volumes, and management gave strong guidance for the current quarter.

That’s why the stock’s been such a monster, up more than 90% over the past 12 months, including a quick 4.7% gain today. No one was really counting on this to happen. UBS downgraded the stock today from Buy to Hold, arguing that it’s run too much. I think that’s wrong, given that we’re building data centers all over the country, reshoring a ton of manufacturing, on top of the fact that steel tariffs protect them from foreign dumping.

Nucor Corporation (NYSE:NUE) manufactures steel and steel products, including sheet, plate, bar, and structural steel. The company also produces raw materials, metal products, and industrial gases for construction, manufacturing, and energy applications.

While we acknowledge the risk and potential of NUE 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 NUE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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