Jim Cramer is no stranger to big predictions, and stock market investors navigating this choppy market need reasons to look beyond the next trading session.
In his September 11 episode, the Mad Money host pointed to eerie similarities with 2018, when elevated interest rates helped turn a robust market into a painful sell-off. Despite that caution, Cramer sees Meta Platforms (META) stock potentially doubling over the next three to five years.
For Meta shareholders, that’s clearly a welcome change following a remarkably uneven stretch. Through September 11, shares jumped nearly 13% in September but remained 2% lower for 2026, according to Yahoo Finance data.
That said, the latest bounce gave investors something to work with. Meta jumped over 6% on September 9 after launching its Muse AI assistant, according to Yahoo Finance, which renewed interest in how the tech giant might turn AI into a bigger business.
Cramer, however, is looking beyond the initial enthusiasm surrounding that launch. His argument begins with what investors are paying for Meta stock today, then extends to opportunities that may take years to develop.
That combo makes his bullish call worth looking at, especially against his cautious stock market outlook.
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Why Cramer sees Meta doubling
Cramer’s bull case starts with what investors are paying for Meta stock today.
“It sells at a very low multiple,” he said, suggesting the stock’s pricing leaves plenty of room for investors to reassess its potential. That said, he didn’t specify an earnings multiple or assign a dollar price target.
For perspective, Seeking Alpha data shows that Meta stock trades at 20.66 times forward adjusted earnings, around 6% below its five-year average of 22.04. Moreover, its forward adjusted PEG ratio, which layers in expected earnings growth, is 1.03, 32% below its historical average.
Cramer’s second argument centers around a potential obstacle that’s become a lot less threatening.
“It’s got a lot of the worries about those lawsuits away from it,” he said. Naturally, the reduced legal uncertainty helps investors focus on future profits, though the company isn’t in the clear when it comes to every regulatory overhang.
The big legal relief for the Facebook parent came on August 26, when it agreed to settlements worth nearly $18 billion over state claims involving children’s social media addiction and privacy, Reuters reported.
Moreover, these agreements also addressed participating states’ Cambridge Analytica claims, which lowered the uncertainty around two major longstanding disputes.
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Then Cramer talked about the tremendous growth opportunity.
“I think they’ve got a lot of things in the works for small business,” Cramer said, also highlighting personal assistants. Moreover, execution puts it all together with Cramer praising Meta’s “really brilliant CEO”, underscoring confidence in the leadership’s ability to develop those opportunities.
Put simply, considering an undemanding valuation, fewer legal obstacles and room for new growth, Cramer feels the stock could double over the three to five years for those willing to stomach the risk.
Cramer puts AMD stock among his top picks
Cramer’s enthusiasm stretched to Advanced Micro Devices (AMD) stock, grouping it along with Dell Technologies (DELL) as “the two best stocks in this market”.
His endorsement came after the caller compared AMD’s dollar gains with Nvidia’s (NVDA), asking whether to buy.
That comparison points to bigger dollar moves; that doesn’t necessarily mean a healthier percentage return, as share prices differ.
Nevertheless, Cramer came with an unequivocal answer.
“AMD’s fantastic stuff. Fantastic company,” he said, before praising its leadership and adding: “Buy it. End of story.”
His frustration was that his own portfolio didn’t follow that conviction.
“I couldn’t; I wasn’t able to pull the trigger because of my restrictions,” he explained, referring to AMD and Dell.
Both stocks have killed it this year, with AMD rising over 141% year-to-date, while Dell stock has surged 351% over the same period, with Dell in particular trading at just 2.4 times trailing twelve-month sales, according to Seeking Alpha data.
Nevertheless, the exchange offered no earnings forecast, price targets, or valuation analysis. Also, the broader context is that Cramer remains worried about a potential market pullback and wants cash available to buy into the weakness.
His bullishness over AMD, though, suggests confidence that the company can continue co-existing with caution about when and how aggressively to invest.
What Meta investors should watch next
Cramer’s Meta thesis ultimately depends on earnings growth and what investors will pay for it.
A relatively modest discount to historical valuations helps, but doubling entails substantial business progress, an elevated multiple, or both.
One of the big questions is if new AI products can generate added profit to justify their costs. Adoption alone won’t answer that, as investors need to watch monetization, operating margins, and cash generation as those offerings develop.
Legal settlements improve on that visibility, but their payments and product changes still matter a ton. Less uncertainty doesn’t automatically translate into higher earnings, though.
That said, the practical takeaway is to efficiently test the business case, continue preserving flexibility and avoid treating either endorsement as protection against losses.
Related: Jim Cramer has strong message for Nvidia, Broadcom investors
