TECH - Amid Nvidia Craze Jim Cramer Sees A Chip Stock 'Not On Anyone's Radar' About To Break Out: Here's What He Said | Benzinga
Jim Cramer, in his latest CNBC Investing Club “Morning Meeting” livestream, highlighted a chip stock that is poised for a significant upturn.
What Happened: On Friday, Cramer, the host of CNBC’s “Mad Money,” noted that despite the market’s overbought status, there are still opportunities for investors to capitalize on. Chip stocks, which had a down day on Thursday, saw a broad increase in the final session of the week. This was largely due to the robust April sales figures of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM), a major chipmaker, reported CNBC.
The company’s monthly business update indicated a sustained demand for artificial intelligence chips. This development led to a rise in the shares of Nvidia (NASDAQ:NVDA), a key customer of TSMC and a leading AI chip designer, by 1.2% on Friday.
He suggested that ...