Jim Cramer Latest Stocks: 23 Stocks He Just Talked About

2. NVIDIA Corporation (NASDAQ:NVDA)  

Number of Hedge Fund Holders In Q3 2024: 193

NVIDIA Corporation (NASDAQ:NVDA) is Wall Street’s AI GPU darling whose products big tech can’t get enough of. Yet, its GPUs, and particularly the latest Blackwell lineup, have also created doubts in investors’ minds. Some quarters believe that as NVIDIA Corporation (NASDAQ:NVDA)’s GPUs are in high demand, tight supply, and pricey, big tech companies like Amazon will be forced to switch to either custom chips or products from Broadcom or Marvell. Cramer isn’t buying any of this as he’s sure that the broad demand for NVIDIA Corporation (NASDAQ:NVDA)’s products isn’t going anywhere:

“And I’m absolutely sure about that. Just the fact that Microsoft got their chips, immediately the wags, whoever the wags are said oh then there must be a demand problem if they got all their chips. That’s completely untrue. I do not like, Carl, as you know, an up opening. The people who bought it yesterday at $127. It will be heat-seeking missiles blasting that $133. You need a crescendo sell-off and we did not. Haven’t yet.

“Well it went on $127, $128, went to $130, then went right back to $128. David there are sellers of NVIDIA because they just decided you know what it cannot possibly be as good as they picture. And I say it’s gonna be every bit as good, and at the January 6th keynote at CES you’re going to hear things Jensen Huang that are going to make you regret why you sold at $127.

“Well the stock falls because of the performance and the performance, the big problem [IS] people don’t remember what it was like when you went from the 386 to the 486 the Pentium. There are these gaps. There are these gaps where momentarily you’re not shipping. This Blackwell turned out to be much harder to ship. That’s their current chip. This was Hopper the chips that Microsoft bought are not the current iteration.”