CNBC’s Jim Cramer praised Nvidia’s stock despite a recent decline, arguing the drop was unrelated to the company’s merits. He encouraged investors to consider this as a buying opportunity, referencing CEO Jensen Huang’s impressive keynote at CES, which showcased innovations like new chips for laptops and PCs utilizing advanced AI technology. Cramer emphasized that Nvidia is at the forefront of an industrial revolution driven by AI applications such as humanoid robots and autonomous vehicles, asserting that these developments signal a robust future for the company. On Tuesday, Nvidia’s stock fell 6.22% amidst a broader tech selloff, influenced by investor anxiety over interest rates and inflation. Cramer attributed this pullback to an influx of speculative investment and advised waiting for upcoming employment data from the Labor Department before making further investments. He suggested that if the report indicates strong job growth, investors might find Nvidia at an even lower price point for purchase. Cramer remains optimistic about Nvidia’s long-term prospects, urging potential investors to consider entering the market at this lower valuation.
