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Squawk on the Street

Cramer's Morning Take: Nvidia Earnings Preview 2/21/24

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 21 February 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim and Jeff discuss their earnings expectations for Nvidia. 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 morning meeting.

0:08.3

Once again, Osset are now overbought.

0:10.6

Typically you don't see that go up as the market goes down, but it's led by the NASDAQ.

0:15.5

And we've been hoarding cash, raised a lot of money everywhere, frankly, and this is our time.

0:21.6

Yeah, I mean, look, we've had some buys here and there, but it's really in stocks that have come down recently,

0:26.6

selling into strength as well to balance that out. So, you know, 14% cash, a lot of cash, but you just mentioned S&P down three days in a row.

0:35.6

You got oscillator overbought. I'm not going to make a big deal out of

0:39.7

NVIDIA earnings tonight, but I think it is a big deal. I know. Well, it's a big deal because

0:44.1

what's happened is, as I mentioned last night when I talked about the Nouveau-Riche NV. Yeah.

0:49.4

It is the problem is people don't believe that a stock can go from, say, $100 billion to $1.7 trillion

0:55.7

to be among the top three in such a short period of time.

0:59.4

But what they're missing is that that Jensen Wong worked for 10 years for this product.

1:04.8

Ten years.

1:05.8

And now you're seeing the fruits of his labor that started in 2014.

1:09.9

And therefore, it's a little bit different from just a

1:12.6

overnight success. And I think that's a really important concept that you're trying to

1:17.4

remind everyone here in that. Invidia is not running the business on a three-month basis. It's not

1:21.9

quarter to quarter. It's more of a long-term vision. He'll unveil a lot of that at their

1:27.0

GTC conference next month.

1:29.3

So you do have something to look forward to during the conference call.

1:35.2

People will look ahead to that.

1:36.5

But look, we're looking for revenue of about $20.6 billion this quarter,

...

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