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Jim Cramer is the host of CNBC's Mad Money and founder of TheStreet.com. In 1987 Cramer started his own hedge fund and returned an average of 24% per year between 1987 and 2001. Cramer has also written six money management books.

During the last 30 days, his favorite buy recommendations (based on the number of shows in which he mentioned them) on Mad Money were as follows:

Company

No. Of Times Picked

First Date*

Return**

Excess Return vs. S&P500

Apple (NASDAQ:AAPL)

5

9/23/10

39.9%

36.0%

Juniper Networks (NYSE:JNPR)

4

10/20/10

-41.0%

-40.0%

Alcoa (NYSE:AA)

3

10/11/10

-21.5%

-20.9%

ARM Holdings (NASDAQ:ARMH)

3

5/18/11

-6.4%

9.6%

Cummins (NYSE:CMI)

3

10/21/10

-6.9%

-5.0%

Pier 1 Imports (NYSE:PIR)

3

9/6/11

-5.3%

-3.0%

FedEx (NYSE:FDX)

2

12/10/10

-28.1%

-22.7%

Goldcorp (NYSE:GG)

2

2/18/11

1.7%

18.8%

SPDR Gold Shares (NYSEARCA:GLD)

2

10/21/10

23.4%

25.9%

Google (NASDAQ:GOOG)

2

6/1/11

0.0%

15.0%

Philip Morris (NYSE:PM)

2

6/27/11

-2.0%

9.8%

Starbucks (NASDAQ:SBUX)

2

11/15/10

27.7%

32.3%

Southern Copper (NYSE:SCCO)

2

8/16/11

-12.0%

-7.8%

Schlumberger (NYSE:SLB)

2

9/28/10

2.7%

1.7%

United Parcel Service (NYSE:UPS)

2

2/9/11

-15.0%

-2.4%

Walgreen (NYSE:WAG)

2

10/8/10

4.6%

5.3%

Yum Brands (NYSE:YUM)

2

10/1/10

13.4%

12.2%

Average

-1.5%

3.8%

* Represents latest recommendation change from sell to buy. The study interval includes only the past year.
** Includes the duration from first date till September24.

Cramer's favorite stock recommendations lost 1.5% on average since they have been recommended. The average relative performance of these stocks against the S&P500 is 3.8%. Ten of his favorite 17 stocks have managed to beat the market.

Cramer's most favorite stock during last 30 days was Apple. He repeated his buy recommendation of Apple five times during the last 30 days. Apple has a market cap of $375 billion and forward P/E ratio of 16. Apple recently traded at $404.3 and has gained 39.9% since September 23, 2010, beating the SPY by 36 percentage points.

Apple is one of Fortune's top 10 picks for 2011. Cramer thinks Apple’s recent stock performance, reaching new all-time highs, proves analysts’ 2012 earnings predictions are too low. Current estimates range from $32 to $37 per share, but Cramer thinks Apple can earn $45 per share, which would make the stock cheap on fundamentals. Apple is also the most popular stock among hedge fund managers at the end of June (see the 10 most popular stocks).

Juniper Networks provides network infrastructure that creates responsive and trusted environments. Cramer strongly recommended JNPR last week on Tuesday and Wednesday because it is a profitable company with a healthy balance sheet. Cramer also has JNPR in his charitable trust’s portfolio. JNPR has a market cap of $10.1B and a P/E ratio of 18.06. JNPR has lost 41% since October 20, 2010, underperforming the SPY by 40 percentage points. Bain Capital holds nearly $300 million in JNPR. Juniper Networks has superior technology with relatively small market share, which gives it room to take share from competitors.

Cramer's other favorite stock during last 30 days was Alcoa. The price of this aluminum producer’s stock has fallen 6 points since Cramer has been heavily recommending it, and the decline hasn’t changed his mind. Cramer thinks Alcoa is a buy, referring to the low price as representing good value. Cramer’s charitable trust owns Alcoa. The stock trades at 11.5 times earnings and the company has a $10.7 billion market cap. John Paulson of Paulson & Co. increased his AA position by 59% in the first quarter and held the position constant in the second quarter (more of Paulson’s stocks can be found here).

ARM designs microprocessors, physical intellectual property and related technology and software, and sells development tools. ARMH has a market cap of $12.07B and a P/E ratio of 86.25. ARMH has lost 6.4% since May 18, 2011, beating the SPY by 9.6 percentage points. Paul Reeder and Edward Shapiro hold the largest position in ARMH.

Cummins Inc. provides diesel and natural gas engines, power generation equipments and custom power supplies worldwide. This engine maker does a lot of business in China, but the stock has been hammered since China has been aggressively raising rates. Cramer repeated his buy recommendation of CMI three times during the last 30 days. CMI has lost 6.9% since October 21, 2010, underperforming the SPY by 5.0 percentage points.

The stock has a market cap of $16.6 billion, P/E ratio of 11.3 and dividend yield of 1.9%. Ken Heebner’s Capital Growth Management initiated $180 million position in CMI during the second quarter. John Murphy’s Alydar Capital and Christopher Medlock James’ Partner Fund Management are other investors who are very bullish about CMI. (See Ken Heebner’s top stock picks here).

Disclosure: I am long PM.

Source: Jim Cramer's 17 Most Recommended Stocks Of The Last 30 Days