Inside Jim Cramer’s Charitable Trust: 10 Stocks He Actually Owns

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4. Apple Inc. (NASDAQ:AAPL)

Apple Inc. (NASDAQ:AAPL) entered the holiday quarter with a new way to test how much customers will pay for a hardware upgrade. Its redesigned MacBook Pro began reaching customers on November 6 with a touchscreen OLED display. U.S. prices start at $2,899 for the 14-inch model and $3,399 for the 16-inch model. Sales of those laptops will first show up in the December quarter.

The iPhone had already set a September-quarter sales record, helping lift Apple’s fiscal fourth-quarter revenue 12% to $114.5 billion. Services revenue also reached a record. For shareholders, the appeal of a hardware upgrade extends beyond the purchase itself. A customer who sticks with an iPhone can keep paying for storage, apps and subscriptions for years between purchases.

Cramer defended his Charitable Trust’s longstanding Apple stake in July, when investors were weighing the company’s AI strategy. By September, Apple shares had already rallied after the iPhone launch, but he thought one model could still surprise investors with the demand it could draw.

3. Micron Technology, Inc. (NASDAQ:MU)

Micron Technology, Inc.’s (NASDAQ:MU) customers have been making multiyear commitments to secure memory chips. Micron is making commitments of its own further up the supply chain. On October 20, it agreed to fund an expansion of Indium Corporation’s refining and manufacturing operations in Rome, New York. The companies also plan a long-term supply agreement that would give Micron access to high-purity materials used in chipmaking. The investment is part of the company’’s broader plan to spend up to $3 billion on its U.S. supply chain.

Micron’s fiscal fourth-quarter revenue rose to $54.23 billion from $11.32 billion a year earlier. In past memory cycles, a shortage could send profits soaring just before new supply arrived. On its September 30 earnings call, the company estimated that 26 signed customer agreements would account for more than 35% of its revenue through 2030. Cramer had visited Micron in August. By the time he discussed the stock again, one number had changed enough since his visit to make him question whether the old pattern still fit.

During the October 7 episode of Mad Money, a Western Digital shareholder who had bought on the way down asked Cramer whether to wait for a recovery. Cramer had once owned a sizable stake himself, but his advice to the caller turned on how Western Digital compared with Micron.

2. Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) put its balance sheet behind another company’s AI expansion on November 4. Data-center developer TeraWulf disclosed that Google had agreed to cover certain obligations under Anthropic’s leases at a Kentucky campus. Once the guarantees take effect, a default by Anthropic could leave Google paying overdue rent and taking over the affected lease. Under certain conditions, Google could instead pay a termination fee that would entitle it to acquire a stake in the TeraWulf subsidiary that leases the site.

Google Cloud revenue more than doubled to $30.7 billion in the third quarter. Google Search and other revenue grew 12%, while search queries recorded their fastest year-over-year growth in five years. Query growth answers one question for shareholders about whether people still turn to Google. How much advertising revenue Google earns when AI answers a question directly is harder to judge from those figures.

On September 3, Cramer said Alphabet’s 9% gain for the year left the stock looking cheap. He pointed to Google Cloud’s rapid growth and YouTube’s reach, then explained why he liked the shares at $342 even as investors who bought in the recent stock offering were sitting on losses. His Charitable Trust still owned Alphabet after its October 28 report, though the results left him less comfortable with the outlook for search.

1. NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is making room for other companies’ chips inside data centers built around its technology. On November 9, Korean chip designer Rebellions announced plans to connect its next-generation R200 processors to NVIDIA systems using NVLink Fusion. SK Telecom plans to deploy the systems. That gives NVIDIA a way to sell the technology that connects processors even when a customer chooses another company’s chip to run an AI model.

Data centers accounted for $89 billion of NVIDIA’s $96.2 billion in fiscal second-quarter revenue. With about 92.5 cents of every sales dollar coming from that business, a project that fails to get built can matter even when customers want the chips. On November 9, Cramer still considered NVIDIA a buy, but he thought local opposition at the ballot box could slow construction of new data centers.

Cramer had discussed owning NVIDIA through his Charitable Trust on July 1. On September 28, NVIDIA added $150 billion to its existing share repurchase authorization. He welcomed the size of it but had a more pointed message for management about when to start buying shares.

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