Jim Cramer’s 21 Stock Calls: NVDA, AMD, and Speculation Warning

15. Enphase Energy, Inc. (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) was among Jim Cramer’s stock calls, as he discussed the rising market speculation. When a caller asked Cramer about the stock, he said:

This has been such a disappointing stock. The other day… we talked positively about First Solar. I know you don’t want to hear that; you’re looking more at Enphase. But we think First Solar’s better. And I’ll tell you, Enphase has just been, just been a disappointment for too long.

Enphase Energy, Inc. (NASDAQ:ENPH) develops home solar solutions centered on its microinverter technology, which converts and monitors power at the individual panel level. The company offers home battery storage and EV charging systems, all of which are managed through its cloud-based software. During the July 1, 2025, episode, Cramer was similarly bearish on the company, noting that it was the “second-worst performer in the S&P through June.” He said:

Next, the second-worst performer in the S&P through June was Enphase Energy, that’s a solar power play, with the stock down 42%. Now this one is just political. The solar industry relies on tax credits, but the Big Beautiful Bill that just passed the Senate will cut those tax credits, starting in a couple of years. Doesn’t help that Enphase reported the latest in a long line of weak quarters in late April.

This was once one of the greatest growth stories around. Now, it’s basically untouchable as the fundamentals stink, and the regulatory backdrop is likely to get much worse for the company. Sadly, the solar industry’s become a partisan football.