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Squawk on the Street

Cramer's Morning Take: Nvidia 8/6/24

Squawk on the Street

CNBC

News, Investing, Business

4.1567 Ratings

🗓️ 6 August 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Cramer calls this chipmaker a winner. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0

I'm Jim Kramer and you're about to hear a sample taken directly from today's CBC Investing Club

0:07.6

morning meeting.

0:08.4

First we know that the markets are indeed trying to hang in there, but tech is weaker.

0:15.3

We've got a lot of stocks in tech that still can't get their own footing.

0:18.8

We do have an oscillator that's minus 2.4. Now, this is very

0:21.6

interesting. When the oscillator is minus 2.4 after a big down draft, it has tend to not

0:27.6

been confirmative of a bottom. In other words, 2.4 is too high. It's going to go lower. This is

0:34.9

the work of the people from Market Edge, and I think it's always

0:38.0

worth noting because they've been very, very right. There's been a number of times we've had a big

0:42.4

downtraft without the market being oversold and has meant that there is another downtraft. I'm using

0:48.1

that because I want people to be aware of what could happen. We did do two trades though. We bought

0:52.5

some AMD. I think AMD is a winner,

0:54.9

both because of the possibility that Intel is not going to be able to get out of its morass,

1:00.4

and the possibility that NVIDIA's Blackwell is somewhat delayed. Remember,

1:04.7

inviddy has the H-100, H-200, so they're not going to be heard. But we have to respect the fact

1:10.1

that NVIDIA's story is negative.

1:13.6

We also just in terms of, I interviewed the assistant attorney general for antitrust,

1:17.9

Jonathan Canter this morning on squawk on the street, very negative about Alphabet.

1:22.2

Terrible.

1:22.9

I mean, betting that they've really done the wrong thing, they're monopolist.

1:26.4

And by collateral damage,

1:28.2

of course, they're negative for Apple because Google writes a check to Apple that the Justice Department

...

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