Jim Cramer Says This Company Is 'Second-Rate' Logitech, Recommends Buying AMD
Jim Cramer recommended buying Advanced Micro Devices (NYSE:AMD) on the latest episode of CNBC's “Mad Money Lightning Round.”
“Lisa Su's [AMD chair and Chief Executive Officer] doing a terrific job,” he noted.
On April 30, AMD reported first-quarter results that came in slightly ahead of expectations thanks to record data center revenue.
Cramer said he would own XPO, Inc. (NYSE:XPO). “The stock is really good, the company is really good,” he added.
On May 3, XPO, reported first-quarter FY24 results, recording revenue growth of 5.8% Y/Y to $2.02 billion, beating the consensus of $2.01 billion. Adjusted EPS was 81 cents, up 44.6% Y/Y, beating the consensus of 67 cents.
Southern Copper Corp (NYSE:SCCO) is a “very good” company, Cramer said. “I would not necessarily purchase some here, I would like it to come down a little.”
On April 30, Morgan Stanley analyst Carlos De Alba maintained Southern Copper with an Underweight and raised the price target from $123 to $135.
Cramer called Corsair Gaming, Inc. (NASDAQ:CRSR) a “second-rate” Logitech International (NASDAQ:LOGI). The company posted better-than-expected quarterly earnings on May 7, but sales missed estimates.
Cramer said he would not own Starwood Property Trust, Inc. (NYSE:STWD). The company reported upbeat first-quarter earnings, while sales missed estimates.
Price Action:
- AMD shares fell 0.8% to settle at $152.39 on Thursday.
- Southern Copper shares gained 3.6% to close at $117.02.
- Corsair Gaming shares gained 0.5% to settle at $10.84.
- Starwood Property Trust shares fell 0.2% to close at $20.05 on Thursday.
- XPO shares rose 0.9% to settle at $113.00 on Thursday.
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