Jim Cramer’s Bold Predictions About These 15 Tech Stocks

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders In Q3 2024: 193

Date of Cramer’s Comments: 10-14-24

NVIDIA Corporation (NASDAQ:NVDA) is the world’s leading AI GPU designer. It is also the primary beneficiary of the current AI wave because of its product strengths. Cramer simply gave up when discussing getting the timing right for NVIDIA Corporation (NASDAQ:NVDA)’s stock. He stated:

“Now initially, NVIDIA got clubbed along with the whole market when the yen carry trade imploded. Then it came right back because that was only a temporary problem. Then NVIDIA got smacked down after its quarter, although it didn’t take out the blows from the previous sell-off. It’s been working its way back ever since. As we learned that demand for its next-generation super chip Blackwell is ‘insane’, that’s a technical term coined by Jensen, by the way. Next thing you know, the stock’s coming all the way back, but back with very few people who sold the stock. And before this, right, I mean they’re long gone and gone at much lower levels because they traded it, they sold it. Again, take this as a reminder that if you trade NVIDIA, you probably won’t be able to sell it high and then get back in low. The ship would’ve left without you. It’s too hard, people, it’s just too hard.”

NVIDIA Corporation (NASDAQ:NVDA)’s stock is down 2.8% since Cramer’s remarks so perhaps selling then would have been the right decision. Not only have supply issues with its Blackwell GPUs worried investors, but the shares have lost 7.50% in December after Broadcom’s stunning announcement of working with three hyperscalers to develop AI GPUs. You check out our coverage of Broadcom in this list for more details, but it appears that Wall Street might be opening up to the idea of alternatives being present to NVIDIA Corporation (NASDAQ:NVDA)’s products.