CNBC Investing Club: Cramer’s Morning Take on Nvidia 2/26/26

SPEAKER_1 (0:00)

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Jim Cramer (0:51)

Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

Jeff Marks (1:12)

The big story is the what's happening in semis today. You have to go right to NVIDIA earnings, which I thought they were great. I thought NVIDIA numbers were great with REVS, up 73% year over year. Really big beat on adjusted EPS. The gross margin is better than expected, 75.2.

Jim Cramer (1:31)

But this is a rotation. You don't get this based on NVIDIA's conference call, which was superb. It's a rotation because they're not the only one who's the victim today.

Jeff Marks (1:40)

No, they're not. And it's weakness across the semiconductor stocks, whether it's other AI, chips, GM, yes, broadcom. But throughout the chain, and we'll talk about CUNY a little later, but let's stick with NVIDIA here. Still nothing from China yet. No revenues, not in guidance.

Jim Cramer (1:58)

And they like it, and that was something you mentioned. They like it.

Jeff Marks (2:02)

Some other things, they're shipping their first Verirubin samples to customers earlier this week on track for production shipments in the second half of the year. So a lot of positive things from the call, and data centers are power constrained, but NVIDIA was named the inference king by a popular publication, Semi Analysis. They have secured all their components, including memory, through 2026 They're now focused on 2027 Jensen was confident in the cash flow of hyperscalers and the sustainability of their capex, and guidance was strong, expecting sequential revenue growth through 2026

Jim Cramer (2:40)

Right, so what's happening is, this is a machine, okay? This is not a human just selling, selling, selling like something's wrong. This is a actual transaction that's occurring, where you're giving one firm, you're giving Goldman Sachs $2 billion and say, look, I went out of all of the hardware, including SanDisk and Tone Western Digital, and I went into the software, I went into Salesforce, I went into Workday. I think those are overdone. I think that the crowd strike, it shouldn't have been down this much, because these companies got oversold, but let's sell the Taiwan Semi. That's gone up too much. You have to recognize that these are programs that probably last the whole day. And you may not, you might want to pick some up at the end of the day if you don't have any video. I think you should. But this is not a reflection on video. It's a reflection on the idea that the hardware's gotten too hot.

SPEAKER_5 (3:33)

All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club Disclaimer, please visit cnbc.com/investingclubdisclaimer.

SPEAKER_1 (4:05)

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