Jim Cramer says Nvidia and Salesforce earnings upended two bear narratives
CNBC’s Jim Cramer said strong earnings from Nvidia and Salesforce shattered two major bear cases that had weighed on the tech stocks.
TL;DR
- Nvidia and Salesforce reported better-than-expected quarterly results, causing their stocks to surge.
- Salesforce achieved its strongest sales growth in four years and saw bookings for AI bundles more than double.
- Nvidia's results challenged narratives around slowing hyperscaler demand, competition, and depreciating GPUs.
- Nvidia's diversified customer base includes hyperscalers, sovereign AI projects, and other clients, with hyperscalers making up about half its business.
- Nvidia provided a strong fiscal 2028 revenue outlook, indicating potential growth of roughly 70%.
- Jim Cramer noted that investors who owned these stocks experienced a phenomenal day as bearish hedge funds were 'annihilated'.