In this article, we will look at Jim Cramer’s 5 Stock Calls and the Impact of Iran War: Apple, Alphabet, and More. Please visit Jim Cramer’s 18 Stock Calls and the Impact of Iran War: Apple, Alphabet, and More, if you’d like to see the extended list and methodology behind it.
5. Costco Wholesale Corporation (NASDAQ:COST)
Costco Wholesale Corporation (NASDAQ:COST) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. A caller asked what the catalyst for the company is, and in response, Cramer said:
Okay, the catalyst, two catalysts. One is that they have the cheapest gasoline in the country. They tend to, and people sign up for gasoline, and then they sign up for the card, and the card is where the money is made. And two, they are the inflation fighter, and I don’t think a soul thinks that inflation isn’t coming back. So I like Costco for those two reasons, and it is also a lot of fun to shop at.
Costco Wholesale Corporation (NASDAQ:COST) operates membership warehouses and provides groceries, fresh food, household goods, electronics, and more. In addition, the company offers various services through pharmacies, gas stations, optical centers, and e-commerce options. During the March 27 episode, a caller asked whether the stock could experience more pullbacks in light of the economic climate, and Cramer responded:
No, no, no. This one is what you buy in this environment. We see a lot of stocks doing quite badly, except for the chemical stocks and the oil stocks. And I want to put Costco in there and Walmart as two stocks of companies that you buy because those are representing a very difficult economic environment. That’s what people think we’ve gotten because of the war. And Costco’s going to be a big winner, and we stay long here for our Charitable Trust. And I like it more now than I have in a very long time.
4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. A caller asked for Cramer’s thoughts on the stock and whether they should get in it. In response, he commented:
Look, I like Taiwan Semi very much, but I have to tell you, I am going to send you to NVIDIA. NVIDIA’s down a great deal. It’s suddenly become a disliked stock, and that’s when you want to own it.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) produces and sells integrated circuits and semiconductor devices. The company provides fabrication and other related services. During the January 27 episode, Cramer mentioned the stock and said:
I think this industry has a lot more going for it. Two weeks ago, Taiwan Semi, the world’s largest semiconductor manufacturer, reported a total blowout quarter. More important, management said that the demand’s on fire. They plan to invest heavily in building out the production capacity. For this year, Taiwan Semi guided for 52 to $56 billion in capital expenditures. That’d be up 27 to 37% from last year. Wall Street was expecting less than 45 billion.
When management was asked if that would be enough to fix the chip shortages, their answer was a clear no. Taiwan Semi doesn’t see supply and demand coming into balance until 2028 or 2029. So they’re planning to keep their capital expenditures high for the next few years. Again, great news for the semiconductor capital equipment makers.
3. QUALCOMM Incorporated (NASDAQ:QCOM)
QUALCOMM Incorporated (NASDAQ:QCOM) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. Inquiring about the stock, a caller asked if it is a buy at current levels. Cramer replied:
No. No, we don’t want to, but why don’t you just go buy Arm? I mean, I think Arm’s much better than Qualcomm. Qualcomm, I think, is making a series of missteps. Arm is making a series of good steps.
QUALCOMM Incorporated (NASDAQ:QCOM) supplies wireless technologies, chips, and software for mobile, automotive, and IoT applications. Cullen Capital Management, LLC stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth quarter 2025 investor letter:
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) were purchased in the strategy during the quarter. Qualcomm is a leading global semiconductor and wireless technology company with a strong competitive position in premium smartphones and an increasingly diversified portfolio across automotive, IoT and AI-enabled computing. While near-term uncertainty around handset demand, competitive dynamics in China, and the gradual reduction of Apple modem volumes has weighed on sentiment, we view these factors as manageable within a broader, improving long-term growth profile. Qualcomm continues to benefit from a mix shift toward higher-end Android devices, where its content per handset and pricing power are structurally higher, supporting resilience even in a flat unit environment. Beyond handsets, Qualcomm’s automotive business now represents around 10% of QCT revenue and, together with its expanding presence in edge AI and AI enabled PCs, reinforces the company’s ongoing revenue diversification. As these non-handset businesses scale and Apple-related headwinds diminish, we believe Qualcomm’s earnings profile should become more durable over time. Qualcomm trades at an attractive valuation of 14.0x 2026 EPS with a 2.1% dividend yield.
2. The Home Depot, Inc. (NYSE:HD)
The Home Depot, Inc. (NYSE:HD) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. Cramer noted that it has been one of the worst stocks in his portfolio, as he commented:
There’s one other place we gotta listen to, and that’s homes and home repairs. That means Home Depot and Lowe’s. Sure enough, their stocks tell a clear, disappointing story with Lowe’s falling 1.5% and Home Depot, Charitable Trust name, hitting the new low list and doing so in a spectacular fashion, dropping 2.4%. What an awful stock that is. That and Nike are my two worst, and I have to wear them every time like a steamer trunk on my back.
The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that sells tools, building materials, and decor. It also provides installation and equipment rental services. A caller inquired about the stock during the April 2 episode, and Cramer replied:
Okay, we were very disappointed in the action in Home Depot today. Finished down eight, it hit its 52-week low. The company yields almost 3%. I turned to Jeff Marks, who works with me for my Charitable Trust, I said maybe we should buy some, but we’re a little beaten down on it.
We didn’t want to buy it anymore right now. We need to see mortgage rates lower, and we don’t have them yet. I’m not giving up on Home Depot, but there are issues involving ICE, too, that really hurt them. But I do want to say that I regard it now as one of the most problematic positions in my portfolio, along with Nike. Those are the two I’m most worried about.
1. Walmart Inc. (NASDAQ:WMT)
Walmart Inc. (NASDAQ:WMT) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. Cramer highlighted that the company has “left many other retailers behind,” as he remarked:
I want to start with the real screamers, and that’s retail. Walmart’s the biggest. Here’s a stock that truly defines the term juggernaut. It’s a value-oriented retailer that out of nowhere has begun to attract wealthier customers who make over a $100,000 a year… It’s where the less well-off buy a lot of their food and clothing. Walmart’s been a total runaway train, but that has left many other retailers behind.
Today, though, it’s saying something different. It went down 3.4%. It’s a big decline. This boost says that Walmart’s gotten too expensive for many people to shop at. Now, that’s not encouraging. Normally, when I hear Walmart’s stock whisper sweet negatives, I have to figure out whether the problem revolves around the stock of Walmart itself. Now, it’s going up huge. It’s trading at 42 times its fiscal 2027 earnings estimates, close to the highest it’s ever been. That’s rich, the multiple’s rich, and maybe the store’s too rich. I don’t know.
Walmart Inc. (NASDAQ:WMT) operates retail stores, warehouse clubs, and online platforms that sell groceries, everyday essentials, home goods, apparel, electronics, and more.
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