NVIDIA

NVDA

Market cap $4.93T

Jim Cramer used Monday's Squawk on the Street to explain why SK Hynix's sharp overnight decline in South Korea may not signal a change in the company's underlying outlook.

Nvidia (NVDA) reached $203.53 at the closing of the latest trading day, reflecting a -3.52% change compared to its last close.

Wedbush Securities tech strategist Dan Ives argued on CNBC on Monday that memory chips have become the most valuable slice of the AI supply chain, and that SK Hynix's blockbuster U.S.

TSMC (NYSE:TSM | TSM Price Prediction) started the week strong, reporting a 36% jump in quarterly sales, with June monthly revenue reaching roughly 442 billion Taiwan dollars, up 67.9% year over year.

SK Hynix's Nasdaq debut gives U.S. investors easy access to the global leader in AI memory, eliminating previous barriers to ownership. The company's dominance in high-bandwidth memory makes it a critical supplier to Nvidia, but memory remains highly cyclical and competitive.

Smugglers have been using various methods to bring Nvidia chips into restricted markets such as China. Without ongoing technical and engineering support, the smuggled chips have a relatively short lifespan that makes them unusable.

The highly anticipated U.S. trading debut of SK Hynix NASDAQ: SKHY delivered on its initial promise by pricing at $158.14 and raising an unprecedented $28.1 billion on July 10. Shares quickly gapped above $170 as early buyers scrambled for exposure to the global leader in high-bandwidth memory (HBM).

Valuations for these tech titans have fallen to multiyear lows. More importantly, however, they continue to generate robust financial results.

Backed by historic corporate profits, insider buying, and bargain valuations, tech stocks are proving that the 2026 rally is built on rock-solid fundamentals, not hot air.

NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) just reported quarterly net income of $58.32 billion, up 210.63% year over year, for the fiscal first quarter of 2027 ended in the period reported on May 20, 2026.