Jim Cramer Backs Jensen Huang, Tim Cook Amid Wall Street Skepticism: 'Don't Scoff When I Tell You To Have Faith In These People'

Jim Cramer, CNBC’s financial commentator, has expressed his confidence in Federal Reserve Chair Jerome Powell, NVIDIA Corp‘s NVDA Jensen Huang, and Apple Inc AAPL CEO Tim Cook, despite Wall Street’s cynicism.

What Happened: On Thursday, Cramer urged Wall Street to trust these influential figures, who he believes have consistently delivered positive results. He criticized the skeptics, stating, “It’s the skeptics who’ve been wrong — the skeptics — year after year after darn year,” reported CNBC.

"Don't scoff when I tell you to have faith in these people who've made us all fortunes," Cramer said.

Cramer praised Powell’s pragmatic approach and handling of the past turbulent years, expressing faith in his ability to navigate future challenges.

He also defended Nvidia and its CEO, Jensen Huang, amid concerns of Big Tech competitors developing rival graphics chips. Cramer believes Nvidia can collaborate with these companies, who will remain its clients.

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Furthermore, Cramer dismissed the idea that Apple is in a no-growth phase, asserting that CEO Tim Cook will devise a successful strategy. He referenced a Bloomberg report suggesting Apple’s plans to revamp its Mac line with AI chips.

"If my positive track record on ‘Jay' Powell, or my ‘own it don't trade it' philosophy on Apple and Nvidia, have lost you fortunes, you can knock me all you want," he said. "But right now, I think I'm money good with these calls. And the critics? I say to them, show me the money."

Why It Matters: Cramer’s recent remarks are in line with his previous statements. In late March, he advised investors to view potential market pullbacks as opportunities, specifically mentioning Nvidia. On Tuesday, he reiterated his faith in Nvidia and Eli Lilly, despite market dips.

On Wednesday, Cramer emphasized the strength of the economy, advising investors not to anticipate swift rate cuts from the Federal Reserve, further demonstrating his trust in Powell’s leadership.

Despite expressing skepticism about Apple’s short-term prospects in March, Cramer’s recent comments indicate a renewed confidence in the tech giant’s future.

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Posted In: EquitiesNewsFederal ReserveMarketsTechJensen HuangJerome PowellKaustubh BagalkoteTim CookJim Cramer
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