Jim Cramer on Nvidia Earnings: 'The Long Knives Are Out for Now'

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Real Money Stock of the Day Nvidia (NVDA) - Get Report recently reported non-GAAP earnings of $1.78 per share on revenue of $3.014 billion.

While Nvidia beat on earnings, the semiconductor reported softer than expected guidance for its fourth quarter with expected revenue of $2.95 billion, missing estimates of $3.066 billion.

So what should an investor do with the stock now?

"The stock has become a 'show me' at the $200 level; I think it should be a 'buy me' at the $200 level," Cramer said, adding, "I think it's a very good stock to own right hear.

Read Cramer's full take on Nvidia earnings in his latest column on Real Money.

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