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

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. First we know that the markets are indeed trying to hang in there, but tech is weaker. We've got a lot of stocks and tech that still can't get their own footing. We do have an oscillator that's minus 2.4. Now, this is very interesting. When the oscillator is minus 2.4 after a big down draft, it has tended to not been confirmative of a bottom. In other words, 2.4 is too high. It's going to go lower. This is the work of the people from Market Edge, and I think it's always worth noting, because they've been very, very right. There's been a number of times where we've had a big down draft without the market being oversold, and it's meant that there is another down draft. I'm using that because I want people to be aware of what could happen. We did do two trades though. We bought some AMD. I think AMD is a winner, both because of the possibility that Intel is not going to be able to get out of its morass, and the possibility that Nvidia's Blackwell is somewhat delayed. Remember, Nvidia has the H100, H200, so they're not going to be heard. But we have to respect the fact that Nvidia's story is negative. We also just in terms of... I interviewed the Assistant Attorney General for Antitrust, Jonathan Kanner this morning on Squawk on the Street, very negative about Alphabet. Terrible. I mean, betting that they've really done the wrong thing. They're monopolists. And by collateral damage, of course, they're negative for Apple because Google writes a check to Apple that the Justice Department argued is anti-competitive and the judge agreed. Now, we know that there's a couple of years you have to appeal. They'll be able to do this. It's not like that right now Alphabet's going to say, you know what, we're not going to pay you anymore, Apple. And good luck. That doesn't happen. So that matters. So, and Eaton, well, that's Data Center, but it's derivative of Data Center. You know, yesterday we went over, I don't want to give up on Data Center thesis because that's a long-term secular trend. We need more power and these are the companies that make it so that they're more powerful. We need more cooling. We need more, we need the grid fix. These are what we're staying with. And I like our thesis.

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SPEAKER_2 (2:29)

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