Jim Cramer: Nvidia Is 'Remarkable'

Katherine Ross

Nvidia receives Chinese approval for the long-awaited Mellanox deal.

The $6.9 billion acquisition of Mellanox is highly-anticipated. 

“..We believe potentially adding highly complementary Mellanox high-performance computing/networking products could enhance NVDA’s critical data center segment, while adding new opportunities in 5G/edge computing,” stated Vivek Arya, an analyst with Bank of America on Nvidia.

However, Craig-Hallum put out a bearish note on Nvidia back on Monday, April 13. 

Analysts at Craig-Hallum downgraded Nvidia to a hold from buy, and also cut the company's price target to $300 from $325 on valuation concerns.

The price target still represents a potential 14% upside from the stock's previous closing price of $262.95. Nvidia shares fell 1.3% to $259.60 Monday morning. 

Watch the full video above for more from Jim Cramer and his thoughts about Nvidia.

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