Jim Cramer Discusses These 13 Stocks & Rejects The AI PC Super Cycle

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders In Q3 2024: 193

NVIDIA Corporation (NASDAQ:NVDA) is Wall Street’s favorite AI GPU stock. It’s also a regular feature of Cramer’s morning shows. Throughout the year, Cramer has praised the firm’s announcements at the CES conference in Vegas and hit back against its detractors. The CNBC host has dismissed reports that NVIDIA Corporation (NASDAQ:NVDA) is struggling with its Blackwell GPU shipments. More recently, he also dismissed speculation that linked weak performance by Korean memory maker SK hynix to slow demand for NVIDIA Corporation (NASDAQ:NVDA)’s AI GPUs. Here are his full remarks:

“And we have to stay close to that. I think that, I know David likes me to opine in the first minute and half about NVIDIA. There’s a company, let’s get this straight. SK hynix. They do DRAM, they do NAND. They’ve got high bandwidth. And they were saying that NAND was weaker, and they’re saying that DRAM is weaker, and not high bandwidth. But it doesn’t matter. People decided. The long knives are out again for NVIDIA. . . .that’s leading the NASDAQ down, not Apple, for once.”

“Right, look I think that the stocks reflect the full bore 100 bil. My problem is that no really coming near that when they talk about the money that they have! So, it may be chimerical, but it’s going in the right direction. And I think that in terms of stocks, instead of just talking in terms like oligarchs, the main thing that people are talking about is that China has reverted to a conversation of no give without a get. We’ll give you some NVIDIA chips if you send us, if you buy some of our soy. It’s that. And that’s why NVIDIA should go up and not down because of this SK hynix. I mean when SK hynix came out, NVIDIA immediately went down three. And that’s so knee-jerk because SK hynix has a lot of different products. We know that they were called NVIDIA’s man in the room basically and that’s not true. Because if you go to Sanjay Mehrotra, he would tell you no, we’re the high bandwidth and their high bandwidth numbers were very good. Um, I come back and say, I like to look at how NVIDIA is doing when I look at NVIDIA. And NVIDIA’s doing fabulously. And that’s what people should do. And stop making these analogs. Stop doing what they did with Apple. Own NVIDIA.”

“I don’t think the President is going to go with that last-minute 18 friends that NVIDIA can do business with. Again, he’s transactionary.”