Nvidia made Cramer go from ‘it’s a loser’ to it has ‘no competition’ in 8 months

on May 26, 2023
  • Mad Money host Jim Cramer is now all praise for Nvidia Corporation.
  • The chipmaker issued very strong guidance for its Q2 this week.
  • Nvidia stock is already up a whopping 170% versus the start of 2023.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Nvidia Corporation (NASDAQ: NVDA) seems to be in a league of its own in terms of capitalising on rapid growth in artificial intelligence, as per the famed investor Jim Cramer.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Jim Cramer is now all praise for Nvidia stock

Copy link to section

Earlier this week, the semiconductor behemoth guided for about $11 billion in revenue for its current quarter (find out more).

In comparison, experts had called for just over $7.0 billion only. To that end, Cramer said last night on Mad Money:

Alphabet, Oracle, Microsoft, Amazon, Meta all understand if you use Nvidia chips, you can speak in the vernacular of ChatGPT. Best of all, there’s absolutely zero competition. It’s a monopoly by genius.

That’s radically different from his view on Nvidia stock last September when he dubbed it a “loser” as Invezz reported here.

JPMorgan sees upside in Nvidia stock to $500

Copy link to section

In its recently reported quarter, Nvidia Corporation topped Street estimates for adjusted gross margin by a whopping 4.0%. According to Jim Cramer:

None of the new apps like ChatGPT can run on old hardware. Everything has to be upgraded. It’s a 10-year upgrade cycle. Hence why major players are trying to buy Nvidia’s most powerful chips.

His view is in line with the JPMorgan analyst Harlan Sur who raised his price objective on Nvidia stock to $500 this week following the chipmaker’s strong guidance.

That suggests about a 30% upside on top of 170% that NVDA has already gained since the start of the year.


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
USA AI Manufacturing North America Stock Market Tech World