- CNBC’s Jim Cramer said Wednesday he’s holding Nvidia, even though he recently booked some profits in two other big charitable trust winners.
- Cramer revealed Wednesday morning his trust sold some Advanced Micro Devices shares. In late October, the trust sold some Ford.
- “I admit to being piggish in Nvidia, because this may be a $10 trillion stock,” Cramer said on “Fast Money Halftime Report.”
CNBC’s Jim Cramer said Wednesday he’s not ready to sell any shares Nvidia yet, even though he recently booked some profits in two other big charitable trust winners Advanced Micro Devices and Ford.
Cramer told “Fast Money Halftime Report” he believes that Nvidia could be a $10 trillion stock one day. Shares soared 140% year-to-date to a nearly $800-billion stock market value.
It’s no secret that Cramer loves Nvidia, the largest maker of graphics and artificial intelligence chips in the world. He’s even named his dog Nvidia. On television and in his investing club, the “Mad Money” host has praised CEO Jensen Huang’s vision for how the metaverse — or omniverse, which is Nvidia’s preferred term — can be used by businesses to reduce wastefulness and increase efficiency.
During last month’s trip to Silicon Valley, Cramer went to Nvidia headquarters and interviewed Huang, days after the company reported better-than-expected earnings and revenue for its fiscal third quarter and blowout forward guidance.
“I just went there and I saw things. I went time traveling with Jensen Huang. Time traveling,” Cramer said Wednesday, referring to what he saw concerning the omniverse and how Nvidia’s technology can be used in self-driving cars. “I admit to being piggish in Nvidia because this may be a $10 trillion stock,” he reiterated.
Unlike Nvidia, Cramer recently trimmed positions in Advanced Micro Devices and Ford. “I am being a pig in Nvidia. I decided I couldn’t be a pig in Ford anymore,” adding that his trust sold some Ford holdings in late October “when it doubled.” He also said he “couldn’t be a pig in AMD” because he had an 80% gain on average.
Cramer revealed Wednesday morning his trust sold some AMD shares. In his investing club newsletter, he told members the AMD sale was “solely for portfolio management purposes and not out of any change to our bullish long-term view of the company.”
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(Jim Cramer’s Charitable Trust is long NVDA, AMD and F. Nvidia and Ford are two of the three largest positions in the portfolio.)
Source: Business - cnbc.com
