Cramer's Morning Take: Nvidia 2/20/24

Jim Cramer (0:02)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. We've got a very interesting rotation going on today, which is out of tech and into the staples of which reminds us why we own Procter, why we own Abbott, and why we own GE Healthcare.

SPEAKER_2 (0:20)

Yeah, Healthcare too, doing pretty well. You mentioned out of tech, some of the semis that were just rallying furiously over the last couple of weeks are giving back some gains, seeing some profit taking, Mag 7, Eli Lilly, which I think many lump in together with the Magnificent 7 as well.

We'll see if it leads to more. You got Nvidia earnings later this week, Palo Alto tonight.

Jim Cramer (0:41)

Yeah, no, Nvidia is very interesting. I was with Scott Watt this morning, not my usual gang, and Scott was talking about the whole shooting match.

That Nvidia is everything. I want to point out, I may do this tonight because I like to make it so that people understand outside of the stock world.

But this is Taylor Swift, okay? I mean, every time you think that she's achieved what she has to achieve, she comes out and shocks you. I was watching some Jensen notes about what he's going to do with the next conference in March. He's already thinking way beyond this. He is not going to be constrained by the four walls of a chart which says he has to break out here. What he's talking about is next-gen stack that no one has. I mean, in other words, putting aside and leaving behind advanced micro.

SPEAKER_2 (1:26)

Yeah, we'll talk more about NVIDIA tomorrow ahead of earnings.

Jim Cramer (1:29)

And our big CONFAP on Saturday.

SPEAKER_2 (1:32)

Absolutely. This Saturday, the 24th, our annual meeting is this Saturday.

Jim Cramer (1:41)

You think NVIDIA is going to come up?

SPEAKER_2 (1:43)

I bet it. If I was a betting man, I would definitely say it would. But I did want to just briefly say it will be interesting to see if the stock does sell off after earnings, if buyers then come in ahead of that GTC event.

Jim Cramer (1:55)

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SPEAKER_3 (2:10)

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