10 Large Cap Stocks Jim Cramer Can’t Stop Talking About

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors: 179

Market Capitalization: 2.64T

Jim Cramer explains that there was concern about NVIDIA Corporation (NASDAQ:NVDA) being set back due to rumors of delays with its new high-end chips. However, despite these worries, NVIDIA Corporation (NASDAQ:NVDA)’s stock recently rose by 4% following a very positive report from UBS. Cramer points out that, while there’s no new significant development, NVIDIA Corporation (NASDAQ:NVDA)’s current high-end chips are sufficient to address any short-term gaps.

“The rumor that NVIDIA’s new high-end chips were running late led us to believe the company was set back because of the delay, and that concern lingers. However, NVIDIA just jumped 4% on a very positive UBS report. There’s nothing new here at all, and even if there were, the company’s current iterations of high-end chips can fill the gap. I expect the stock to get hit again tomorrow. Many know little about the company. They say they love it, but it was a huge buy a week ago, ten points lower.”

NVIDIA Corporation (NASDAQ:NVDA)’s Q2 2024 earnings report shows strong performance, with revenue reaching $30 billion, exceeding the expected $28.72 billion. This success is driven by high demand for NVIDIA Corporation (NASDAQ:NVDA)’s AI chips, which are essential for data centers and advanced computing. Although the stock has been somewhat volatile due to market conditions and profit-taking, NVIDIA Corporation (NASDAQ:NVDA)’s long-term growth outlook remains strong. NVIDIA Corporation (NASDAQ:NVDA) is well-positioned to benefit from the growing AI sector, as its technology plays a key role in AI development across various industries. Analysts view NVIDIA Corporation (NASDAQ:NVDA) as a leader in AI, with potential for significant stock gains as AI demand continues to grow.

Additionally, NVIDIA Corporation (NASDAQ:NVDA)’s dominance in GPU technology and its expansion into AI software and hardware further support its growth prospects. NVIDIA Corporation (NASDAQ:NVDA)’s focus on innovation and market expansion strengthens its long-term outlook. While broader economic factors may influence short-term stock performance, NVIDIA Corporation (NASDAQ:NVDA)’s leadership in a fast-growing industry provides a solid foundation for sustained growth.