Nvidia is a buy regardless of what happens with the chipmaker’s proposal to purchase Arm Ltd., Jim Cramer says.
Nvidia Can’t Lose in Arm Deal
If it goes through, Cramer says, the Santa Clara, Calif., chipmaker sharply broadens its offerings. If it does not, it would be saving a bunch of money — $40 billion.
Shares of Nvidia were falling Wednesday following a report that said the U.K. was considering blocking Nvidia’s acquisition of Arm Ltd. due to potential risks to national security.
An assessment of the $40 billion acquisition contains worrying implications for national security and the U.K. is currently inclined to reject the takeover, Bloomberg reported, citing a person familiar with government discussions.
“If the deal doesn’t get done, I get it and I can accept it,” Cramer said from the floor of the New York Stock Exchange.
AMD Is Officially a Meme Stock
Advanced Micro Devices (AMD) – Get Report isn’t normally considered a meme stock, but the company’s 6% jump Wednesday, and the stock’s more than 25% jump over the past four weeks, puts the chipmaker squarely in the meme category.
“AMD is now a meme stock. The memesters try to find stocks that are heavily shorted and bust the people who short it,” Cramer said.