Jim Cramer: Nvidia is the Hottest Chip Maker

Nvidia (NVDA) - Get Report is the hottest chipmaker in the country, said TheStreet's Jim Cramer. The Santa Clara, CA-based technology company posted better-than-expected second quarter results and lifted its third quarter guidance yesterday. Nvidia reported revenue of $1.43 billion, surpassing Wall Street's expectations of $1.35 billion. Earnings came in at $0.53 a share, beating analysts' projected $0.37 a share. For the fiscal 2016 second quarter, Nvidia reported earnings of $0.05 a share and $1.15 billion in revenue. The company projects third quarter revenue to be $1.68 billion, plus or minus two percent. Wall Street is looking for $1.45 billion in revenue.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.