Jim Cramer Says Stocks Like Seagate “Are Really Overextended” For Him

Seagate, which had conscionable reported a terrific quarter, but with Western Digital, Sandisk, those stocks though, are truly overextended for me. They’re mode excessively parabolic. I accidental [sell, sell, sell].

lilzidesigns-HhTfeSKz4xQ-unsplash

Seagate Technology Holdings plc (NASDAQ:STX) makes hard drives, solid-state drives, and retention solutions for personal, gaming, and concern use. During the April 29 episode, Cramer mentioned the institution and remarked:

What’s moving here? The shares of companies wherever they can’t marque capable merchandise successful technology. No, not Amazon, not Alphabet, not Microsoft, not Meta, Seagate, Seagate, the shaper of disk drives that store data, including information spewed from machines successful the information center. Oh, Seagate’s been a equine for ages now, and it rallied 11% contiguous connected the league call. They talked astir however they can’t marque their merchandise accelerated enough. I don’t cognize erstwhile that volition alteration due to the fact that determination aren’t capable machines disposable for Seagate to grow its disk thrust production. Boy, that’s precisely what you privation to see. That’s what the marketplace wants.

While we admit the imaginable of STX arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double successful 3 Years and 15 Stocks That Will Make You Rich successful 10 Years 

Disclosure: None. Follow Insider Monkey connected Google News.