We recently published 10 Stocks Jim Cramer Mentioned As He Talked About “Love Lost” Between Microsoft & OpenAI. Astera Labs, Inc. (NASDAQ:ALAB) is one of the stocks Jim Cramer recently discussed.
Astera Labs, Inc. (NASDAQ:ALAB) is a semiconductor company that makes and sells connectivity chips used in enterprise computing and AI. Its shares have gained 32% year-to-date and jumped by 32% in August alone on the back of its second-quarter earnings report. The results saw Astera Labs, Inc. (NASDAQ:ALAB) revenue grow by a whopping 150% annually to convince investors about the merits of its presence in the AI industry. Cramer regretted being unable to find the time to discuss Astera Labs, Inc. (NASDAQ:ALAB) in his Stop Trading segment:
“Carl, had I had a chance to do a Stop Trading I would have mentioned Astera Labs, ALAB, up 43. Lot of that is because the NVIDIA deal they signed in May but I don’t have any time to talk about that.”
Here are his previous thoughts about Astera Labs, Inc. (NASDAQ:ALAB):
“Okay, Astera Labs is a company that is incredibly well run, that has tremendous growth, but like many other companies, that stock has come down in value. I actually think it’s a good place to buy, given the fact that so many of these other stocks actually even have higher price-to-earnings multiples.”
While we acknowledge the potential of ALAB 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term 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.
