We recently published 14 Latest Stocks on Jim Cramer’s Radar. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer recently discussed.
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NVIDIA Corporation (NASDAQ:NVDA)’s shares fell by 3.9% last week after Broadcom revealed that it had landed a $10 billion deal for a new custom AI chip customer. While reports suggest that the customer could be OpenAI, Cramer believes that the firm has a strong partnership with NVIDIA. This time, he commented on CFO Colette Kress’ appearance at a Goldman Sachs conference and the pessimistic sentiment surrounding NVIDIA Corporation (NASDAQ:NVDA):
“And I’m not getting that at all from NVIDIA. But you know what, a lot of people are saying come on NVIDIA, stop it with the NVIDIA. I mean Colette Kress spoke last night. . .CFO of NVIDIA [at] Goldman Sachs. . .Communacopia. . . If you listened to Colette Kress who was saying three trillion, four trillion, at the end of the decade, you’re not going to have any slowdown. And that’s just a chart that is, that chart’s ludicrous.
“Anyway I think the central issue right now is NVIDIA, the doomers and NVIDIA. And RAND,and the guy who runs RAND who is anti-NVIDIA was the guy who was in charge of Diffusion and that was Biden. Biden! He was the previous President!
“But Jensen is, Jensen Huang who’s the CEO of NVIDIA, is talking about total cost of ownership and at the price his, the power consumption’s declining. And I believe that. Meaning that they’re making it. . .more efficient. And I just think that, I read all these articles, these articles, they all read as if we’re in the last days of Pompeii’s last NVIDIA. And I think that the long knives are out for NVIDIA. Not just on Wall Street, where the stock has been going down until yesterday when Colette, stock turned around when Colette Kress, CFO, was speaking. I think the customers are saying, you know what, I really want NVIDIA but it’s really expensive. They want a price break. They want to be able to go Hock Tan and say listen, could you put together Celestica offering with Hock Tan and with Jayshree, which is Arista, and that’s considered to be the competition that then can say NVIDIA, I want the price down. I don’t think that that offering is superior. But I do think that Broadcom’s stock is up in large part because people feel they can rival NVIDIA.
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Disclosure: None. This article is originally published at Insider Monkey.
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