Cramer names four stocks that got ‘lost in the Nvidia shuffle’

CNBC’s Jim Cramer said Thursday that he hopes Wall Street will abandon a larger-than-life vision Nvidia now that the company’s long-awaited earnings report is in the rearview mirror. Perhaps now investors can turn their attention to other value stocks that have been “lost in the Nvidia shuffle,” he said.

“After this quarter, I hope Nvidia becomes just another company, maybe even a boring one,” he said. “One that is valued by earnings rather than intangibles.”

While Nvidia beat estimates and issued stronger-than-expected guidance when it reported after the close on Wednesday, shares fell further, ending Thursday down more than 6%. Wall Street has grown accustomed to Nvidia beating expectations in the past — as it has done in the past few consecutive quarters — and the bar was set very high heading into the quarter. Analysts said the company would have had to report a huge beat for the stock to jump. However, these declines don’t erase Nvidia’s meteoric rise this year, as the stock remains up more than 137% year to date.

Cramer continued to reiterate his view that investors should own and not trade Nvidia, but pointed out that many have come to view the stock in unsustainable ways. Nvidia isn’t a “miracle worker” or a “cult,” he said — it’s a company that helps enable valuable technology. He added that he hopes those who bet on Nvidia — instead of investing in the stock for the long term — will move on.

He listed other stocks he believes deserve investors’ attention, including the chipmaker AMD, Apple, Amazon and Salesforce. Cramer suggested that all of these companies use generative artificial intelligence effectively, with AMD’s chips in the same category as those made by Nvidia, and noted that Apple is due to release a new AI-enabled iPhone. He also said that Amazon is successfully using generative AI to identify user buying patterns and deliver products quickly, and added that Salesforce’s AI products enable cost-saving automation for its enterprise customers.

“As much as I love Nvidia, I’m excited that we can finally return to a market where there are many important stocks that represent many important trends, instead of a single stock that has captured the attention of legions of investors, many of whom have no idea they have what it does, let alone where it fits in the technological food chain,” Cramer said.

Sign up now for the CNBC Investing Club to track Jim Cramer’s every move in the market.

Disclaimer CNBC Investing Club Charitable Trust owns shares of Nvidia, Apple, Amazon and Salesforce.