Nvidia Corporation (NASDAQ:NVDA) stock didn’t get the catalyst it needed, with second-quarter financial results in August not strong enough to send shares back to all-time highs. CNBC host Jim Cramer says investors shouldn’t give up hope on the stock yet.
Cramer on NVDA Stock Cramer is doubling down on the notion that investors should not sell their Nvidia stock, along with an idea of what could help boost shares. "I am not going to give up on Nvidia, on [CEO] Jensen Huang, on his vision or his products," Cramer told the Investing Club Thursday, as reported by CNBC.
Cramer said Nvidia stock sometimes seems cursed. The investor has full confidence in Huang.
" Along with his bullish view, Cramer said his suggestion to boost the stock price is for Nvidia to conduct a $500 billion share buyback. "It would demonstrate a level of conviction that is much needed right here.
" Read Also: Jim Cramer Has a Message for Nvidia Investors After the Earnings Blowout: ‘Don’t Let the Bears Deceive You’ Into Selling NVDA Cramer on Hyperscalers Along with commenting on Nvidia stock for the Investing Club Thursday as part of a monthly tradition of commenting on stocks held in the portfolio, he also shared thoughts on the hyperscaler stocks. "The hyperscalers all have their positives.
I think that we are going to see Amazon, Microsoft and Alphabet put out some spectacular data center numbers by this time next year," Cramer said. com Inc (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) spending heavily, even if its money that exceeds their cash flow.
