NXP Semiconductors N.V. (NXPI) Struggled Due To Auto, Says Jim Cramer

We recently published 11 Stocks That Jim Cramer Recently Talked About. NXP Semiconductors N.V. (NASDAQ:NXPI) is one of the stocks Jim Cramer recently discussed.

NXP Semiconductors N.V. (NASDAQ:NXPI) is a semiconductor company that manufactures application sensors, power controllers, and other products. The firm’s primary customers are in the auto industry. NXP Semiconductors N.V. (NASDAQ:NXPI)’s shares have gained 10.8% year-to-date but fell by 1.4% after the firm’s latest earnings report. The results saw it forecast $3.25 billion in midpoint revenue and $3.42 in midpoint earnings for the third quarter, both of which missed analyst estimates. Cramer ascribed the weak performance to the auto industry:

“That’s auto. You know, it was auto. Choppy.”

Previously, the CNBC TV host discussed NXP Semiconductors N.V. (NASDAQ:NXPI)’s stock and recommended viewers to buy it:

“Oh my god. So you know… we got a Texas Instruments upgrade early today. We got an Analog Devices upgrade earlier this week. NXPI is the last of the Internet of Things semiconductor company, with a lot of auto, and auto looks good to me. I think you buy NXPI on Monday morning. I do not kid you, Monday morning, we’re going to take a shot at that one.”

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

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Disclosure: None. This article is originally published at Insider Monkey.