Jim Cramer Shares Thoughts On Roku’s (ROKU) Big Announcement

We recently published Jim Cramer Discussed Expensive Phones, A Cheap Stock Sector & These 18 Stocks. Roku, Inc. (NASDAQ:ROKU) is one of the stocks discussed by Jim Cramer.

Roku, Inc. (NASDAQ:ROKU) is a TV streaming platform. Its shares are up by 70.5% over the past year and by 27% year-to-date. Over the month, the stock 11.2% after it closed 20% higher on June 12th. On that day, news broke that Fox News had announced to acquire the company for a massive $22 billion price tag. Roku, Inc. (NASDAQ:ROKU) had reported its earnings on May 1st as it reported $1.13 billion in revenue and bumped up its full-year outlook. On April 21st, Guggenheim raised the share price target to $130 from $115 and kept a Buy rating on the shares. The financial firm outlined that Roku, Inc. (NASDAQ:ROKU) was evolving strategically due to factors such as its user growth. Cramer discussed the acquisition and remarked that he was a believer:

“Did you listen to Richard Greenfield’s question to Anthony Wood on the conference call? He’s basically like, why did you do the review? Why now, why now? With an implication that maybe something is not good at Roku. . .I am a big believer in this deal.”

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

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