Jim Cramer Warns More 'Pain' Ahead For Nvidia As Stock Rips On Morgan Stanley Earnings Prediction
Portfolio Pulse from Adam Eckert
NVIDIA Corp (NASDAQ:NVDA) shares rose after Morgan Stanley recommended buying the stock ahead of earnings. However, Jim Cramer warned investors to be patient, expecting the stock to trade sideways or lower in the short term. Despite the company's raised guidance to $11 billion last quarter, Cramer believes the setup is suboptimal heading into the quarter. NVIDIA is set to report Q2 results on Aug. 23, with expected earnings of $2.05 per share on revenue of $11.02 billion.
August 14, 2023 | 4:38 pm
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Despite Morgan Stanley's positive outlook, Jim Cramer expects NVIDIA's stock to trade sideways or lower in the short term. The company's raised guidance last quarter has created high expectations, potentially leading to a suboptimal setup for the upcoming quarter.
Jim Cramer's warning about potential short-term pain for NVIDIA investors, despite Morgan Stanley's positive outlook, could impact the stock's performance. The high expectations set by the company's raised guidance last quarter may lead to disappointment if the upcoming earnings report doesn't meet or exceed these expectations.
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