In this article, we will look at Jim Cramer’s 5 Stock Calls: Apple and Alphabet, and Caution About the Market. Please visit Jim Cramer’s 15 Stock Calls: NVIDIA and Costco, and Caution About the Market, if you’d like to see the extended list and methodology behind it.

5. Innio N.V. (NASDAQ:INIO)

Innio N.V. (NASDAQ:INIO) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. Cramer called it a “good story,” as he stated:

I like that it’s not too far from where it came public so you can still buy it. Makes sense that it’s at a premium… Now, we don’t have full 2026 estimates for Innio yet, but if you assume the rest of the year goes like the first quarter, a conservative assumption, then this stock has an enterprise multiple of 46. Not great, not cheap, nowhere near Bloom Energy’s enterprise multiple… So here’s where I come down on Innio: Because of what I just said, I can’t be crazy about it. It’s a good story, right at the center of one of the hottest themes in the market: power generation for the data center.

In a perfect world, I’d recommend buying the stock a bit lower, say around 29, where it would be valued on par with GE Vernova, but this is not a perfect world, people. And besides, my back-of-the-envelope estimates for Innio are likely way too conservative. If you want to buy the stock here, you know what, I’m going to give you my blessing because it’s such a good story.

At the end of the day, this stock’s hostage to AI, but until we see a slowdown in the great data center build out, and I don’t think we’re going to, I am not fretting it. Here’s the bottom line: I think Innio is worth owning here. And while I prefer you wait for a pullback to pull the trigger, it wouldn’t be crazy to put on a small position, at least right here, right now. See if it comes in while we wait for SpaceX. That may give you the discount that you need to get in a nice-sized position of a bite-sized data center play.

Innio N.V. (NASDAQ:INIO) manufactures and sells power-generation engines and equipment for data center, power, and compression markets. The company also supplies lifecycle aftermarket services, including spare parts, overhauls, digital solutions, and an AI-driven fleet management platform.

4. ServiceNow, Inc. (NYSE:NOW)

ServiceNow, Inc. (NYSE:NOW) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. When a caller inquired about the stock during the episode, Cramer said:

Okay, well, look, it’s expensive, that’s the problem. And it’s one of these companies that has a lot of software as a service, but it’s been pivoting rather rapidly. I’ve been watching this, the stock, and I have mixed feelings about it. But of the stocks that are in the enterprise software business, I think it’s better than most. Is that a lukewarm endorsement? I guess so, but then again, I’m not that bullish to begin with.

ServiceNow, Inc. (NYSE:NOW) provides a cloud platform that supports digital workflows through AI, automation, low-code tools, analytics, and a suite of IT, security, customer service, and employee experience products. Cramer mentioned the stock during the May 27 episode, as he commented:

I think the stock is bottoming. I don’t think that it’s going to have a huge year because I do think that in the end, people want hardware. But I mean, do I agree that Bill McDermott’s going to do a good job? I think the stock is, again, I mean, there’s upside, but I feel there’s a little bit upside in some of the other softwares, too. But what I really want to be in is hardware because that is what’s moving in this new era of artificial intelligence, accelerated computing and just amazing opportunity.

3. Cerebras Systems Inc. (NASDAQ:CBRS)

Cerebras Systems Inc. (NASDAQ:CBRS) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. A caller asked whether it was “dead stock” and whether they should get rid of it. Cramer replied:

Yeah. Frankly, I think, it went up 36 points today. Gave you a nice bounce back. I’d cut it in half, and then if it goes up anymore, I’d get rid of the rest. This was a botched deal. This is what I most fear, okay? They obviously misallocated; they didn’t understand that the stock could open very big. They picked everybody off, and everyone who bought the stock in the last two weeks is underwater… actually, even three weeks.

That’s precisely what I don’t want to have happen. And I tell you, I’ve done these kinds of deals, I priced them, I’ve been in them, and it was done poorly. And now I just heard… [the caller] talk about how he did, and there are hundreds of thousands of people like [the caller]… You know, let me just tell you something, I fear that’s what’s going to happen this week, and it’s going to hurt you, and I’m trying to protect you. That’s all I’m trying to do is protect you.

Cerebras Systems Inc. (NASDAQ:CBRS) designs and manufactures an artificial intelligence compute platform featuring a specialized wafer-scale engine designed for high-performance generative AI and inference tasks. The company provides its proprietary systems and software to several clients, including hyperscalers, foundation model labs, and sovereign AI initiatives.

2. Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. Cramer noted that he did not see the issuance coming, as he remarked:

There’s the equity issuance from Google last week. Now I didn’t see it coming. You didn’t see it either. It was brilliant if you work at Google… You now have the money to build more… data centers to keep your cloud customers from going to another competitor. And that’s what they’re going to do. It’s bad for everyone else, though, especially shareholders of Meta, Amazon, and Microsoft. The ease with which Google raised the cash was incredible. Goldman Sachs did a tremendous job.

Alphabet Inc. (NASDAQ:GOOGL) provides technology-related products and services, including search, advertising, cloud computing, AI tools, and digital content platforms such as YouTube and Google Play. Cramer discussed the stock repurchases and issuance during the June 4 episode, as he said:

Something may be going on with the underwriting process that we haven’t seen very often. We just had a phenomenally successful Alphabet secondary priced well by Goldman Sachs to the point that it looked like we had very few flippers and a lot more demand than we expected. It was an outstanding success, just a huge amount of demand… Alphabet bought back $45 billion worth of stock. In the first quarter of this year, it snapped up another 15 billion. So it’s last year, 45, this year, 15. Now it is selling similar volumes. Can you believe that? Sold it, all the stock they bought last year? Wow.

1. Apple Inc. (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. Cramer highlighted the recent pullback in the stock, as he stated:

That pullback in the stock of Apple today. Of the big-cap stocks, Apple had been the cleanest story. It didn’t have to spend big on artificial intelligence. They had Alphabet to do it for them, and they’re being paid for doing so because they have such an outstanding and deserved user base. When you have 2.5 billion devices out there, there’s a much sought-after audience, right, and the scrum that is Perplexity, Claude, Gemini, Grok, ChatGPT, Meta AI, you can cement your relevancy by making a deal with Apple, and that’s why Google paid them to be their search function. We don’t know the terms of the AI deal, but I think that Apple did fabulously on the whole package that now includes Gemini as Siri… When I say as Siri, what I mean is that Siri’s gotten much smarter.

How about that? Apple, is it done, and there are no more improvements? That’s what I kept hearing today: it’s done. Well, that’s just plain stupid. It’s going to get better and better. No one’s going to switch from this phone because they were disappointed by today’s Worldwide Developers Conference, except for the hedge fund guys and gals who watch our network and said, oh, it’s really bad. I mean, it wasn’t even a tradable event, although people tried to trade it, and the traders are the losers, not Apple. That said, Apple’s a leader, maybe the leader, and I don’t want to lose the leader of this stock market. We’ve lost all the other mega-cap stocks now. Forgive me for wanting one of them to keep winning because I do think Apple could have gone higher on the same info we got today. I wanted it to open down and then rally.

Apple Inc. (NASDAQ:AAPL) manufactures and sells devices such as the iPhone, Mac, iPad, along with its line-up of wearables and accessories. The devices are supported by the company’s app ecosystem, AppleCare, and cloud tools.

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