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Tapestry (TPR) Has Done Remarkable Things, Says Jim Cramer

We recently published 12 Stocks on Jim Cramer’s Radar.  Tapestry, Inc. (NYSE:TPR) is one of the stocks on Jim Cramer’s radar.

Tapestry, Inc. (NYSE:TPR) is a luxury goods company. Its shares are up by 89% over the past year and by 17.8% year-to-date. UBS discussed the firm in late January as it raised the share price target to $125 from $123 and kept a Neutral rating on the shares. The bank outlined that Tapestry, Inc. (NYSE:TPR)’s upcoming second-quarter results would see the firm beat analyst forecasts for earnings per share. It added that the firm’s Coach brand appeared to be performing well in its recent quarters. Following the earnings release, Wells Fargo raised Tapestry, Inc. (NYSE:TPR)’s share price target to $165 from $142 and kept an Overweight rating on the shares. The bank pointed out that the apparel firm’s Coach brand had exceeded expectations through strong growth. Tapestry, Inc. (NYSE:TPR)’s earnings saw Coach’s revenue grow by 25% while the firm also raised its full-year earnings forecast. Cramer praised Tapestry, Inc. (NYSE:TPR)’s CEO and Coach:

“They came back and they’ve done remarkable things, and the CEO’s great. I can’t applaud, they’ve reinvigorated Coach in a way that I never thought was possible. That’s a very remarkable company. 28 billion dollars. . .”

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

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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