Jim Cramer wants you to know that Nvidia is still the main character. Even when it’s having a bad day.
Speaking on CNBC’s “Squawk on the Street” on July 7, Cramer doubled down on his conviction that “everything still revolves around Nvidia,” despite the stock sliding roughly 2% during the session. In a market where the Magnificent Seven collectively shed about $2.3 trillion in market cap during June alone, Cramer’s message was simple: stop trading Nvidia and start holding it.
The case for Nvidia at 22x earnings
Here’s the thing about Nvidia’s current setup. The stock is trading at roughly 22x earnings, a multiple that Cramer described as “incredibly cheap.” For context, that’s a company dominating the GPU market for AI infrastructure, priced like a mid-tier industrial firm.
Cramer called Nvidia the “most important stock” in the ongoing AI boom. That distinction matters because it frames Nvidia less as a momentum trade and more as foundational infrastructure, the company whose chips quite literally power the AI models everyone else is building on.
