Jim Cramer’s Top 10 Stock Picks You Can’t Ignore

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors: 179

Jim Cramer noted that NVIDIA Corporation (NASDAQ:NVDA)’s stock has been struggling since its last earnings report, even though the company is performing well. He pointed out that NVIDIA Corporation (NASDAQ:NVDA), like other tech stocks, is currently contributing to market losses.

“And yes, Nvidia—that stock is still struggling since its last earnings report. Nvidia is doing better than ever, but it doesn’t matter. Nvidia, like the rest of tech, is just a share donor to the rest of the market.”

NVIDIA Corporation (NASDAQ:NVDA) is a strong investment choice due to its dominant position in the AI and GPU markets. In fiscal Q2 2024, NVIDIA Corporation (NASDAQ:NVDA) reported an extraordinary 111% increase in revenue and a 137% rise in EPS compared to the previous year, far surpassing expectations.

This growth is driven by high demand for AI chips like the H100, key partnerships with major tech companies such as Meta Platforms, Inc. (NASDAQ:META) and OpenAI, and continued investments in AI infrastructure. Analysts are optimistic about NVIDIA Corporation (NASDAQ:NVDA)’s future, predicting a 33% potential price increase thanks to its strong market position and growth potential.