The semis are having a give-up like we haven't seen in ages. With the so-called twilight of Nvidia (NVDA) and the astounding weakness in customer demand for Applied Materials (AMAT) may be the final (paper) straws in the big rollover.
I have been sending big-time messages in every one of my 4328 venues that you had to back away from Nvidia because of the end of cryptoid mania - here it is the short-life of Ethereum. Now it is coming home to roost and the chartists are feasting on the fabled double-top.
Was Applied Materials such a real shock? And is Micron's (MU) so-called downfall related to flash pricing capitulation so surprising? I think these have been flagged endlessly as has the missteps of Intel (INTC) .
When you add in the end of consolidation that comes from the Chinese blocking the Qualcomm (QCOM) NXP (NXPI) deal, the slowdown in autos and the decline and fall of the cellphone, then you really end up in the depths of despair.
And that means you need to get ready to buy and Nvidia is the one to buy because, while it has a hard product transition, its Turing product will have more demand soon than it can handle.
I also like the ancillary data center plays because, if anything, data center is exploding not declining.
It's awful to "lose" a leadership group. But I would add that it's been being "lost" for ages.
Today people panic?
(Nvidia is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells NVDA? Learn more now.)
