Amid Nvidia Craze, Jim Cramer Sees A Chip Stock 'Not On Anyone's Radar' About To Break Out: Here's What He Said
Portfolio Pulse from Navdeep Yadav
Jim Cramer highlighted Broadcom (AVGO) as a chip stock poised for a breakout, despite market focus on Nvidia (NVDA) due to strong AI chip demand. Taiwan Semiconductor (TSM) reported robust sales, boosting Nvidia's shares. Cramer suggested trimming Procter & Gamble (PG) after reaching new highs and noted Alphabet's (GOOGL) decline amid acquisition talks.
May 11, 2024 | 9:40 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Broadcom is highlighted by Jim Cramer as a breakout stock in the chip sector, not widely noticed but poised for significant growth.
Cramer's endorsement and the stock's potential to reach $1,400 per share indicate a positive short-term outlook, especially given the market's current interest in AI chips.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia's shares rose by 1.2% following strong sales reports from TSMC, highlighting sustained demand for AI chips.
The increase in Nvidia's stock price, driven by TSMC's sales performance and AI chip demand, suggests a positive short-term trajectory.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Taiwan Semiconductor's strong April sales figures, indicating sustained AI chip demand, contributed to a market uptick.
TSMC's positive sales report, reflecting ongoing demand for AI chips, is likely to have a favorable short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Alphabet experienced a decline amid reports of acquisition talks, marking it as the worst-performing stock in the session.
The decline in Alphabet's stock price, potentially due to market reactions to acquisition news, suggests a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Procter & Gamble reached new all-time highs, with Cramer suggesting it might be time to trim positions in the stock.
Cramer's advice to consider trimming PG stock after reaching new highs could lead to a short-term price dip as investors take profits.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70