Jim Cramer Linked NVIDIA (NVDA) & Computer Storage Stocks

We recently published 17 Stocks Jim Cramer Talked About.  NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks that Jim Cramer talked about.

AI GPU giant NVIDIA Corporation (NASDAQ:NVDA)’s shares are up by 31% over the past year and down by 3.2% year-to-date. UBS discussed the firm in February as it raised the share price target to $245 from $235 and kept a Buy rating on the stock. The bank pointed out that while NVIDIA Corporation (NASDAQ:NVDA)’s shares had not performed well, supply chain signals were suggesting tailwinds for the stock. UBS also focused on the firm’s upcoming earnings. It outlined that the setup appeared to be positive, particularly due to the upcoming GTC conference. Goldman Sachs also discussed NVIDIA Corporation (NASDAQ:NVDA)’s shares in February. It reiterated a Buy rating and a $250 share price target on the firm and outlined that the upcoming earnings could see the firm produce a beat-and-raise quarter. Cramer has long held that NVIDIA Corporation (NASDAQ:NVDA)’s shares are to be held instead of being traded. In this appearance, he linked the stock with the shares of storage manufacturers:

Photo by Javier Esteban on Unsplash

“But if the shortage stocks, like Micron, Western Digital, Seagate, Sandisk, if the shortage stocks come down then what’s going to happen is you’re going to see a rally in Broadcom, you’re going to see a rally in. . .NVIDIA, and you’re going to see a rally in AMD.”

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Disclosure: None. This article is originally published at Insider Monkey.