Jim Cramer Stands By Nvidia And Eli Lilly Despite Market Dips, Says 'Terrific Time To Take Some Profits'
Portfolio Pulse from Benzinga Neuro
Jim Cramer, a CNBC market commentator, remains optimistic about NVIDIA Corp (NVDA) and Eli Lilly And Co (LLY) despite their recent market dips. He attributes the declines to their significant prior gains making them vulnerable to market volatility. Cramer suggests the dips, partly influenced by tax season dynamics, present a good opportunity for profit-taking without tax implications. He highlights competition from Intel's Gaudi 3 accelerator as a factor for NVIDIA's dip and views Eli Lilly's dip as unwarranted, especially with its new factory construction in Germany.
April 10, 2024 | 2:32 am
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POSITIVE IMPACT
Eli Lilly And Co fell by 2.6% due to market volatility, despite starting construction on a new factory in Germany. The stock is up 27.87% YTD, reflecting its growth trajectory.
Eli Lilly's recent dip is considered unwarranted by Cramer, especially with the company's expansion through a new factory in Germany. The positive YTD performance and Cramer's support suggest a bullish short-term outlook as the market corrects the recent dip.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
NVIDIA Corp experienced a slight dip of over 2%, attributed to competition concerns from Intel. Despite this, the stock is up 77.20% YTD, indicating strong growth potential.
NVIDIA's dip is seen as a temporary setback due to market volatility and competition from Intel. Given its strong YTD performance and Cramer's optimistic outlook, the short-term impact is likely positive as investors may view the dip as a buying opportunity.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90