CNBC’s Jim Cramer said Wednesday that he was not ready to sell Nvidia stock, despite recently posting some gains on two other major nonprofit trust winners, Advanced Micro Devices and Ford.
Cramer told Fast Money Halftime Report that he believes Nvidia could one day be a $ 10 trillion stock. Its shares rose 140% year-to-date to a market value of nearly $ 800 billion.
It’s no secret that Cramer loves Nvidia, the world’s largest manufacturer of graphics and artificial intelligence chips. He even named his dog Nvidia. On TV and in his investment club, Mad Money host praised CEO Jensen Huang’s vision of how the Metaverse – or Omniverse, as Nvidia’s preferred term – can be used by companies to reduce waste and increase efficiency .
During his trip to Silicon Valley last month, Cramer went to Nvidia headquarters and interviewed Huang days after the company reported better-than-expected earnings and revenue for its third fiscal quarter and exceeding forward guidance.
“I just went and saw things. I went on a time travel with Jensen Huang. “I’ll admit I’m bogus at Nvidia because it could be a $ 10 trillion stock,” he repeated.
Unlike Nvidia, Cramer recently trimmed positions at Advanced Micro Devices and Ford. “I’m a pig in Nvidia. I’ve decided I can’t be a pig at Ford,” added that his trust sold some Ford inventory in late October, “when it doubled.” He also said he couldn’t “be a pig with AMD” because he had an average gain of 80%.
Cramer announced on Wednesday morning that his trust had sold some AMD shares. In his investment club newsletter, he told members that the sale of AMD is “solely for portfolio management purposes and not to change our optimistic 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.)
