Was Jim Cramer Right About HP Inc. (HPQ)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where HP Inc. (NYSE:HPQ) stands against other stocks that Jim Cramer discusses.

At the time, a viewer asked about HP Inc. (NYSE:HPQ), expressing concern that the stock wasn’t improving despite being near 52-week highs. Cramer gave a measured response, noting what he referred to as the “new AI PC cycle”:

“Well, it is straight up — it’s straight up from $28. They do have the new AI PC. I think it could probably sell off. I don’t know whether this is going to be the breakout quarter — but the next quarter will be the breakout. So I think if the stock goes down, then you want to pick some up. It’s not Dell — that’s the main thing you need to know. Dell is best integrated when it comes to Nvidia, and you’ve got to get right with Jensen.”

Cramer’s AI PC optimism didn’t hold up as HPQ is now down 14.30%. HP Inc. (NYSE:HPQ) is introducing AI-enhanced personal computers while facing headwinds from weak global PC demand and intense competition.

Was Jim Cramer Right About HP Inc. (HPQ)?

A laptop, showing off the companys sleek notebook computers and workstations.

On April 28, Cramer completely changed his stance on the stock. Here’s what he said recently:

“It will not be the needle mover for HPQ, and I do not like the PC business. So I’m going to have to suggest that you do not buy that stock. If you look at how it’s done, it’s not been a good one.”

Overall, HPQ ranks 9th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of HPQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HPQ and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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