CNBC’s Jim Cramer said on Wednesday that he was not yet ready to sell Nvidia shares, although he recently recorded profits in two other big winners of charity trusts Advanced Micro Devices and Ford.
Cramer told “Fast Money Halftime Report” that he believes Nvidia may one day be a $ 10 trillion stock. Shares have climbed 145% year-to-date to a market value of over $ 800 billion.
It’s no secret that Cramer loves Nvidia, the world’s largest maker of graphics and artificial intelligence chips. He even named his dog Nvidia. On television and in his investment club, the “Mad Money” host praised CEO Jensen Huang’s take on how the metaverse – or the omniverse, which is Nvidia’s favorite term – can be used by businesses to reduce waste and increase efficiency.
During last month’s trip to Silicon Valley, Cramer visited Nvidia headquarters and interviewed Huang, days after the company reported better-than-expected earnings and revenue for its fiscal third quarter and forecasted ‘explosion.
“I just went there and saw things. I traveled through time with Jensen Huang. Travel through time,” Cramer said on Wednesday, referring to what he saw regarding the omniverse and how Nvidia’s technology can be used in self-driving cars. “I admit being piggy in Nvidia because it can be a $ 10,000 billion inventory,” he reiterated.
Unlike Nvidia, Cramer recently reduced its positions in Advanced Micro Devices and Ford. “I’m a pig at Nvidia. I decided I couldn’t be a pig at Ford anymore,” adding that her trust had sold some Ford stakes in late October “when she doubled up.” He also said that he “couldn’t be a pig in AMD” because he had an 80% gain on average.
Cramer revealed on Wednesday morning that his trust had sold AMD shares. In his investment club newsletter, he told members that the sale of AMD was “for portfolio management purposes only and not because of a change in our long-term bullish view of the business. “.
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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.)