Jim Cramer on NVIDIA: “Do Not Lose Faith”

NVIDIA Corporation (NASDAQ:NVDA) is one of Jim Cramer’s latest stock calls as oil drops and the U.S. market rises. Cramer urged people not to “lose faith,” as he stated:

Now, you’d think that the companies here at NVIDIA’s GTC conference, where we’ve encamped for the last two days, would also be running led by NVIDIA itself, right? But the world’s biggest company is finding out that most big institutions already own its stock. Everyone’s already in the pool. So despite some incredible numbers unveiled by CEO Jensen Huang during his keynote address, the stock just couldn’t get any traction today. It finished down $1.29 at $181.93. Ouch. Now, tonight you’re going to hear from Jensen directly, and you’ll see why I always say you should own it, not trade it…

Now, there’s a belief that the stock simply can’t move. That it’s hostage to options situations that are pushing it down relentlessly, call selling, because the calls are richly valued, pumped by retail enthusiasm. It’s an abstruse strategy that allows traders to profit from the stock doing nothing. Oddly, many of the companies that use NVIDIA semiconductors or live in the NVIDIA ecosystem found their stocks trading higher today, leaving NVIDIA behind. My suggestion? Do not lose faith. Go back over what he’s been saying. This is the real deal.

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.

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.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.