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Jim Cramer Recommends Buying Apple, Finds This Tech Stock 'Very Interesting'

Author: Avi Kapoor | May 29, 2024 08:47am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Apple Inc. (NASDAQ:AAPL) is a “buy here.”

Apple's iPhone sales in China increased by 52% year-on-year in April, Reuters cited from industry reports.

When asked about Palantir Technologies Inc. (NYSE:PLTR), he said, “It's very tough to understand what they really do for the government. So, therefore, I am no longer going to say that that's a stock to own.”

On May 6, Palantir said first-quarter revenue increased 21% year-over-year to $634 million, which beat the consensus estimate of $625.431 million.

Axcelis Technologies, Inc. (NASDAQ:ACLS) is a “very good semiconductor that's been left behind,” Cramer said. “I find that very interesting.”

On May 1, Axcelis Technologies posted better-than-expected quarterly results.

When asked about Datadog, Inc. (NASDAQ:DDOG), Cramer said he wants quarterly earnings report from Salesforce (NYSE:CRM) today, as Workday (NASDAQ:WDAY) was “not as good as I'd like.” He added, “If Salesforce is not as good as I'd like, then Datadog's going to go down. Let's hold off for a day.”

On May 15, Needham analyst Mike Cikos reiterated Datadog with a Buy and maintained a $165 price target.

Cramer said Novo Nordisk A/S (NYSE:NVO) is a “good growth” stock, but he likes Eli Lilly and Company (NYSE:LLY) better.

Novo Nordisk disclosed that it retains approximately 60% of the list price of its diabetes and obesity medications, Ozempic and Wegovy, in the U.S. after accounting for rebates and fees paid to intermediaries.

T. Rowe Price Group, Inc. (NASDAQ:TROW) is “such a bargain,” the “Mad Money” host said. “I'd love to join you in owning that one.”

On April 26, T. Rowe Price posted better-than-expected financial results for the first quarter.

Jim Cramer said he needs to do some more work on Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD).

On May 7, Great Lakes Dredge & Docks posted better-than-expected first-quarter financial results.

“This is TV stations, and I just don't care for anything involving linear TV,” Cramer said when asked about TEGNA Inc. (NYSE:TGNA).

On May 8, Tegna posted stronger-than-expected quarterly earnings.

Price Action:

  • Datadog shares fell 1.2% to settle at $122.11 on Tuesday.
  • T. Rowe Price shares fell 1.6% to close at $116.33.
  • Palantir Technologies shares rose 0.2% to settle at $21.05.
  • Axcelis Technologies shares gained 3.6% to close at $115.33 on Tuesday.
  • Tegna shares gained 0.6% to settle at $14.42.
  • Apple shares rose 0.01% to settle at $189.99 on Tuesday.
  • Novo Nordisk shares fell 1.4% to settle at $134.08 during Tuesday's session.
  • Great Lakes Dredge & Dock shares gained 0.3% to close at $9.23 on Tuesday.

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Image: Shutterstock

Posted In: AAPL ACLS CRM DDOG GLDD LLY NVO PLTR TGNA TROW WDAY