Jim Cramer on How to Navigate Wednesday’s Tough Tape: 7 Stocks in Focus

5. NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is one of Jim Cramer’s latest stock calls as he shared how to navigate Wednesday’s tough tape. Cramer said that the company’s stock is “hard to understand,” as he commented:

Now, I just got back from one of the most remarkable of all places, the showcase for artificial intelligence and accelerated computing in all of its forms, NVIDIA’s GTC conference in San Jose. There, I saw so many different companies capitalizing on NVIDIA’s software and hardware platform, and they’re going to do that regardless of what happens in the Middle East. NVIDIA’s stock is hard to understand… But what keeps people from missing the big gains in the stock is that it’s really at the heart of what’s known as the fourth industrial revolution. That’s where technology overruns the way we do things. Not just companies, but individuals. They can do more with less. They can create all new industries we haven’t even imagined yet. They can generate amazing profits for companies that harness AI, whether it be ChatGPT, Anthropic, or Gemini… They’re a canvas anyone can write on… But most of all, if I didn’t own it, I would buy the stock of  NVIDIA.

I know it can go down, maybe four or five points. It doesn’t mean anything. It’s small. The tech giant’s not hemmed in by Iran. It’s not shredded by stagflation fears. Its lack of upside has more to do with the structure of the market. NVIDIA’s overowned right now. That won’t matter if all the good things I saw at GTC come to fruition, though. Some stocks may be just too cheap to avoid.

NVIDIA Corporation (NASDAQ:NVDA) develops accelerated computing and AI platforms, GPUs for gaming and professional use, cloud services, robotics and embedded systems, and automotive technologies. We recently mentioned the company while discussing the best growth stocks to buy. You can read about it here.