CNBC's Jim Cramer on Thursday told investors he hopes Wall Street will abandon a larger-than-life view of Nvidia now that the company's long-awaited earnings report is in the rearview mirror.
Perhaps investors can now turn their attention to other worthwhile stocks that "have been lost in the Nvidia shuffle," he said.now that the company's long-awaited earnings report is in the rearview mirror. Perhaps investors can now turn their attention to other worthwhile stocks that had been "lost in the Nvidia shuffle," he said.
"After this quarter, I'm hoping Nvidia becomes just another company, maybe even a boring one," he said. "One that's valued based on earnings rather than intangibles." Wall Street had become used to Nvidia blowing past expectations — as it has for the past few consecutive quarters — and the bar was set very high leading up to the quarter.the company would have had to report an enormous beat for the stock to jump.
"As much as I love Nvidia, I'm thrilled that we can finally return to a market where there are many important stocks representing many important trends, instead of one stock that's captured the attention of legions of investors, many of whom have no idea what it does, let alone where it fits into the technological food chain," Cramer said.
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