Shares of Nvidia along with most chip makers are up today after a positive meeting between President Trump and China's President Xi at G20 over the weekend, where the two agreed not to impose any additional tariffs.
Any good news on trade tensions is a benefit to Nvidia, since over 50% of their revenue comes from China. Additionally, the rollback of Huawei sanctions could help ease concerns among investors about a potential hang up over the Mellanox deal, as China may look to green light the deal in a show of commitment to the negotiations.
Today, Jim Cramer told investors that "Nvidia can go much higher... if Nvidia gets that Mellanox deal, it goes to 200 in a snap."
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