NVIDIA Corporation (NASDAQ:NVDA) is one of the Magnificent Seven stocks Jim Cramer commented on. Cramer believes the company is the real winner among hyperscalers, as he remarked:
“Finally, there is NVIDIA. We don’t know how it’s doing. It reports on a different cycle, with its next report coming later this month. But we do know this: When you hear that Amazon’s not doing well enough because it didn’t order enough chips from NVIDIA, like all the other hyperscalers, well, guess who’s really the winner? NVIDIA.”
NVDA Headquarters Courtesy of NVIDIA
NVIDIA (NASDAQ:NVDA) provides advanced computing, graphics, and networking solutions for gaming, AI, data centers, and automotive applications. The company’s products include GeForce GPUs, AI platforms, autonomous vehicle systems, and enterprise tools. During the July 9 episode, Cramer advised, “own it, don’t trade it” about the company stock. He said:
“NVIDIA, own it, don’t trade it. That’s been my advice for about $3.7 trillion in market capitalization. Today. NVIDIA became the first $4 trillion company, and it’s hard not to celebrate the success of this business or the man behind it… Now let’s talk about this $4 trillion achievement. Let’s put it in perspective. In the last 25 years, only four companies have earned the title of the biggest public company in America: Microsoft, General Electric, Exxon Mobil, and Apple.
GE wore the crown twice, Microsoft, five times, Exxon Mobil seven, and Apple an astounding 11 times, hallowed ground. Of course, GE imploded not long after, too much leverage. ExxonMobil, oil prices shot up, and Exxon was the biggest company in the industry at that time. But the two that still rival NVIDIA, Microsoft, and Apple… But I don’t see it (Apple) taking that crown back from NVIDIA anytime soon… The fact is, neither Microsoft nor Apple can claim that they’re currently creating a new industrial revolution, like NVIDIA can… Bottom line: NVIDIA, own it, don’t trade it. Oh, and see you at $5 trillion.”
While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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