Jim Cramer Tells Viewers To Not Trust Billionaires & Discusses These 11 Stocks

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders In Q3 2024: 193

NVIDIA Corporation (NASDAQ:NVDA) is the world’s leading AI GPU company whose shares were dealt an unbelievable blow earlier this month. The stock bled 17% of its value during the DeepSeek selloff and is down by 14% year-to-date as investors re-calibrate their estimates about the amount of spending required to set up AI models. NVIDIA Corporation (NASDAQ:NVDA) is a regular feature of Cramer’s shows. Throughout this year, he has insisted that the firm is ushering in an industrial revolution and criticized sanctions levied against its products by the US government. Here are his latest remarks about NVIDIA Corporation (NASDAQ:NVDA):

“[On Trevor Noah and NVIDIA] That sent chills through me because that meant that there isn’t an area that doesn’t own NVIDIA. And that kinda has to end before you can buy it.

“NVIDIA did everything they were told to do. And they have evidence that Singapore did not. . . they have actual evidence of where Singapore put their chips. But I think that this company has now been footballed so to speak. When I meet people, they own it. Now I’m not trying to, I don’t want people to lose money. But I think there is a cohort of people that doesn’t know what NVIDIA does. That’s worried about DeepSeek. I’m not as worried. I do think that the CUDA platform they have is going to come out fine. And that the more GPTs there are, they are a winner. But they are in quiet period. And during quiet period people get very nervous and they sell. Imagine a lot of work on NVIDIA this weekend, then you watch the Grammy’s, you say well look, jeez all my work was nullified by a guy who some people regard as a comedian who mentioned it. I don’t want the broad notion, NVIDIA is a froth stock in a sense that everybody owns it that I talk to. But it’s a great company. And I think ultimately it will be a winner but it has to be a loser first before it’s a winner.

“[on a 24% drawdown] That may not be enough, no, it may not be enough because you really have to shake out people. I mean that’s what happens. When you have a really great company that everybody is in and you don’t have a lot of people know what it is, that is a recipe for even further selloff. And then, buy. Because it’s going to win because nobody’s close to them. Nobody.

“But remember, they’re moving past the 200 and the new one Blackwell. . .there’s going to be a lot of different companies that have a better than DeepSeek. I think that Google’s better than DeepSeek.”