NVIDIA Corporation (NASDAQ:NVDA) was among Jim Cramer’s stock calls, as he discussed the rising market speculation. Noting that the company’s CEO has a “real sense of the industry,” Mad Money’s host said:
Wait a second, I got a better idea. Instead of buying Allbirds, maybe buy NVIDIA. Call me crazy, but when it comes to GPUs and service, I want to go with Jensen, not with the really nice people from Allirds. I just think he knows more and has a real sense of the industry.
Photo by Javier Esteban on Unsplash
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. Earlier in the week, Cramer restated his bullish stance on the company and said:
NVIDIA, which had become a real laggard, came roaring back to life in the last couple of days. Do you know how many times I heard that Google was eating NVIDIA’s lunch with its own chips? Or how about Amazon was tired of paying the price NVIDIA wanted? Or that NVIDIA was investing in companies so they would buy goods from NVIDIA, so-called circular deals? Or how about when it didn’t get the China orders? The negativity never stopped, just endless explanations for the demise of a stock that never should have been up. Remember how they kept saying never should have been in the first place? It was the most overvalued stock in history. That’s what people were saying. So down goes NVIDIA, down goes NVIDIA…
And it just wouldn’t stop until it got down to $165, less than a month ago. At that level, when it was selling for less than 17 times earnings for what I think will be the forward earnings, we got a crescendo sell-off where everyone who wanted to sell, everyone insisted that something bad was going to happen, finally dumped the darn stock. Now, maybe the pain just became too great for these sellers, many of whom didn’t even know what NVIDIA was or did. Whatever bad that was supposed to happen to NVIDIA, it just didn’t happen. And now NVIDIA’s back up to $196.
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.