Jim Cramer says Nvidia and Salesforce earnings upended two bear narratives

Strong quarterly earnings from Nvidia and Salesforce have shattered prevailing bear narratives on Wall Street, leading to significant stock price increases. Salesforce demonstrated robust sales growth and increasing demand for AI-focused products, while Nvidia showcased a diversified customer base and a strong future outlook, defying concerns about slowing demand and competition. Cramer emphasizes that these results highlight the danger of popular narratives overshadowing actual company performance.

• Nvidia and Salesforce reported better-than-expected quarterly results, causing their stocks to surge.
• Salesforce achieved its strongest sales growth in four years and saw bookings for AI bundles more than double.
• Nvidia’s results challenged narratives around slowing hyperscaler demand, competition, and depreciating GPUs.
• Nvidia’s diversified customer base includes hyperscalers, sovereign AI projects, and other clients, with hyperscalers making up about half its business.
• Nvidia provided a strong fiscal 2028 revenue outlook, indicating potential growth of roughly 70%.
• Jim Cramer noted that investors who owned these stocks experienced a phenomenal day as bearish hedge funds were ‘annihilated’.
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