In this article, we will take a detailed look at Jim Cramer is Recommending These 10 Stocks in April. For a quick overview of such stocks, read our article Jim Cramer is Recommending These 5 Stocks in April.
Jim Cramer has been sharing his thoughts about the latest market pullback on his programs on CNBC. Last week, Cramer said that after major wins stocks tend to decline and that’s exactly what happened recently when winners saw sharp declines on April 10 when the market saw a “tough session” for the “winners”. Cramer said that it’s “astonishing” that how some of the “great stocks” got “pummeled” while “sub-par performers” of the last year “finally had their day in the sun.”
Cramer Talks Nvidia VS Intel
Cramer talked about some stocks he liked that recently saw a pullback, including NVIDIA Corp (NASDAQ:NVDA) and Eli Lilly And Co (NYSE:LLY). Cramer said part of the reason why NVIDIA Corp (NASDAQ:NVDA) fell was concerns that the competition for the chip company might be heating up with Intel launching its new chips. Intel has revealed its AI-focused chip called Gaudi 3, and the company claimed it’s faster than Nvidia’s H100 GPU. Cramer said that when he read about Intel’s latest chip, he “gulped” until he read the claims Intel made about Gaudi 2 back in 2022. Cramer said that if he hadn’t been “well versed” with NVIDIA Corp (NASDAQ:NVDA), he would have been “tempted” to sell NVIDIA Corp (NASDAQ:NVDA) shares back in 2022 when the stock was trading at just $175. At that time, Intel made claims that its new chips had twice the training throughput of Nvidia A-100 chips. But, according to Cramer, Intel’s Gaudi 2 chips failed to make any waves. However, Cramer said that it’s possible that Intel’s Gaudi 3 is faster than Nvidia’s chips in some “categories” but by the time this chip reaches market, NVIDIA Corp (NASDAQ:NVDA) would have launched its “much, much faster” Blackwell.
Jim Cramer said that in the Nvidia versus Intel battle, it’s not just about the chips.
“It’s the software, it’s the ecosystem, it’s the platform, it’s the leadership.”
Cramer said Gaudi 3 would likely be “as useless as” Gaudi 2.
Cramer Thinks Nvidia Stock Could Fall in the Coming Days
Jim Cramer, however, said that he’s no longer saying “buy, buy, buy” for NVIDIA Corp (NASDAQ:NVDA) since there’s a chance the stock would fall if Google unveils its own chip. But Cramer said his advice for investors when it comes to Nvidia is to “own it, don’t trade it.”
Jim Cramer’s Thoughts on Elon Musk
In another program, Jim Cramer talked about Tesla Inc (NASDAQ:TSLA) CEO Elon Musk and how the media becomes all the praise for the billionaire when Tesla Inc (NASDAQ:TSLA) shares are going higher. But when the stock nosedives, like it is in 2024 (down 33% so far), news outlets grill Musk and criticize his personality, his handling of Twitter and Tesla cars. Cramer said that he thinks Elon Musk is “brilliant” and calling him an “evil genius” is “unfair.” Cramer also talked about how the media uses Elon Musk’s name to gain more “eyeballs” and “page views.”
Musk is back in the news on April 15 morning after The Wall Street Journal reported the billionaire, in an email to Tesla Inc (NASDAQ:TSLA) employees, announced to cut 10% of the global workforce.
Methodology
For this article, we watched latest programs of Jim Cramer aired in April so far and picked 10 stocks he’s recommending investors to buy and hold.
10. Excelerate Energy Inc (NYSE:EE)
Number of Hedge Fund Investors: 13
Jim Cramer thinks the US government’s pause on LNG expansion until 2028 is not going to hold, which is why he recommended buying Excelerate Energy Inc (NYSE:EE) for the long term. Cramer thinks Excelerate Energy Inc (NYSE:EE) is going to “fly” if the US government reverses its decision to halt LNG projects expansion, which, according to Cramer, is one of the “dumber” things the current administration has done.
Last month, during an earnings call, the company talked about guidance:
“For the full year, we expect adjusted EBITDA to range between $315 million and $335 million. As Steven mentioned, the fixed fee revenues from our FSRUs and terminals create an exceptional foundation for sustainable growth. As part of our financial plan this year, we expect to see an increase in business development expense as compared to last year as we advance on our commercial growth opportunities that Steven referenced earlier. These business development costs, which are estimated about $20 million are included in our guidance range and will be reported within our selling, general and administrative expenses in our income statement. Also included in our full year adjusted EBITDA guidance is the impact of a planned first quarter dry dock for the FSRU summit LNG.
This vessel is our second FSRU that is under a Build-Own-Operate-Transfer or BOOT structure and provide services in Bangladesh. Because this FSRU is under a BOOT structure, the related expenses will not be classified as maintenance CapEx, but instead, the financial impact of the dry dock will be recognized on our income statement in the first quarter of 2024.”
Read the full earnings call transcript here.
9. New Fortress Energy Inc (NASDAQ:NFE)
Number of Hedge Fund Investors: 24
Jim Cramer recently said in a program that US government’s pause on LNG terminal expansion is hurting New Fortress Energy Inc (NASDAQ:NFE). Cramer said he “likes” New Fortress Energy Inc (NASDAQ:NFE). He thinks the pause is “outrageous” and believes LNG is “great for energy security” and for “our allies.”
8. PNC Financial Services Group Inc (NYSE:PNC)
Number of Hedge Fund Investors: 37
Jim Cramer hit “buy, buy, buy” button on PNC Financial Services Group Inc (NYSE:PNC) in a latest program when he was asked about the Pennsylvania-based financial services company. Cramer said he does not understand why the stock is down. Cramer praised PNC Financial Services Group Inc’s (NYSE:PNC) 4% dividend yield and said you should buy some PNC Financial Services Group Inc (NYSE:PNC) shares now and then buy more next week if the stock goes down after earnings. In addition to PNC, Cramer is also talking about Tesla Inc (NASDAQ:TSLA), NVIDIA Corp (NASDAQ:NVDA) and Eli Lilly And Co (NYSE:LLY) during his shows these days.
Artisan Value Fund stated the following regarding The PNC Financial Services Group, Inc. (NYSE:PNC) in its fourth quarter 2023 investor letter:
“Banks were well represented among our top Q4 performers as the Treasury market rally drove big gains in the bank stocks. US Bancorp (USB), The PNC Financial Services Group, Inc. (NYSE:PNC) and Bank of America—the three banks we hold in the portfolio—were each among our top five contributors to return. When bank stocks sold off in Q1 due to fears of contagion following Silicon Valley Bank’s failure, we took advantage of the market dislocation by purchasing top-10 US banks USB and PNC at what were, in our view, cheap prices. USB and PNC are banks we have known for years. They are well managed and well capitalized. As large banks, they were less impacted by the turmoil that affected smaller institutions as depositors sought the safest places to store their money. The recent rebound is an example of how our approach of investing in out-of-favor businesses can lead to alpha. USB and PNC are not immune from industry-wide headwinds from higher deposit costs, pressured net interest margins and fleeing deposits. However, we did not see these banks having a similar level of risk, with respect to uninsured deposits and unrealized losses, which contributed in varying degrees to the collapses of other banks in March 2023. As investors, we cannot avoid risk. However, we are willing to take risk if we are being compensated appropriately.”
7. PACCAR Inc (NASDAQ:PCAR)
Number of Hedge Fund Investors: 38
While giving positive comments about power generation company Cummins in his latest program, Cramer also pitched PACCAR Inc (NASDAQ:PCAR), the Washington-based large commercial trucks company. Earlier this year Cramer had called PACCAR Inc (NASDAQ:PCAR) a “true innovator.”
Like PCAR, Jim Cramer is also talking about Tesla Inc (NASDAQ:TSLA), NVIDIA Corp (NASDAQ:NVDA) and Eli Lilly And Co (NYSE:LLY).
6. Cummins Inc (NYSE:CMI)
Number of Hedge Fund Investors: 39
Jim Cramer was recently asked about power generation and engines company Cummins Inc (NYSE:CMI). Cramer hit the buy button for the stock and said he likes the stock “very much.” The company talked about guidance and future plans during a latest earnings call:
“We project our major global high horsepower markets to remain strong in 2024. Revenues in the global power generation market are expected to increase 5% to 10%, driven by continued increases in the data center and mission-critical markets. Sales of mining engines are expected to be down 5% to up 5%, while the small market for us, demand for oil and gas engines, is expected to decrease by 40% to 50% in 2024, primarily driven by decreased demand in North America. And for aftermarket, we expect a range of flat to an increase of 5% for 2024, as we expect to be largely through inventory management efforts and destocking that happened throughout the industry in the second half of 2023. In Accelera, we expect full-year sales to be $450 million to $500 million, compared to the $354 million in 2023.
We have a growing pipeline of electrolyzer orders, which we expect to deliver over the course of the next 12 months to 18 months, as well as expect continued growth in electrified components. In summary, 2023 was a record year for revenues and operating cash flow, excluding the impacts related to the agreement to resolve U.S. regulatory claims.” [Read the full earnings call transcript here].
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Disclosure. None. Jim Cramer is Recommending These 10 Stocks in April is originally published on Insider Monkey.
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