Cramer on Nvidia: Cramer talked about Nvidia missing on some numbers in the quarter, but said the company couldn’t keep up.
“So much demand they can’t make them [chips],” Cramer said. He called that a “high-quality problem” to have.
Cramer said Nvidia makes chips for the automobile industry and gaming industry. Nvidia also has large customers like Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) unit Google, Amazon.com (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT).
“They all look to Jensen,” Cramer said, referring to Nvidia CEO Jensen Huang.
Cramer said if Nividia opens down “you can still buy it.”
Related Link: Mike Khouw Sees Unusual Options Activity In Nvidia
Nvidia Earnings: Nvidia reported third-quarter earnings of $2.91 per share, which beat the consensus estimate of $2.57. The company reported third-quarter revenue of $4.73 billion, which beat the consensus estimate of $4.41 billion.
“If [Huang] had all the chips, no idea what number they would’ve hit,” Cramer said.
NVDA Price Action: Nvidia shares are down 1.9% to $526.80 in early Thursday trading.