Cramer Wants Nvidia to Buy Back a Tenth of Itself but One Analyst Expects the Stock To Hit $400 Without It

Cramer Wants Nvidia to Buy Back a Tenth of Itself but One Analyst Expects the Stock To Hit $400 Without It Rich Duprey Wed, September 2, 2026 at 5:58 PM GMT+2 4 min read NVDA Quick Read Ferragu calls $400 NVDA "very, very, very likely" within 18 months, citing 70% projected growth and single-digit earnings multiples most investors haven't repriced. Cramer wants NVDA to buy back roughly 10% of itself at a cost exceeding $500B, dwarfing the $99B remaining buyback authorization. Just released.

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Two CNBC voices looked at the same stock inside the same 12-hour window and reached opposite conclusions about what it needs. Jim Cramer wants NVIDIA ( NASDAQ:NVDA ) to launch a buyback roughly equal to a tenth of its market value to fix what he sees as broken price discovery. New Street Research's Pierre Ferragu says the earnings will do the work themselves.

Shutterstock Ferragu's $400 Call, No Corporate Action Required Speaking Tuesday morning, Ferragu said a $400 stock price is "very, very, very likely" within 18 months, driven by earnings power alone. He cited Jensen Huang's guidance for at least 70% business growth next year and framed NVIDIA as operating in "halcyon days" with no visible cycle top. His valuation argument leans on multiple compression: NVIDIA, he argues, is trading at "single digit earnings multiples" against a forward earnings base most investors have not fully repriced.

NVDA Price Target — 24/7 Wall St. From the September 1 close of $217. 44, a move to $400 implies roughly 84% upside and a market cap approaching $10 trillion.

The stock traded at $226. 67 on Wednesday morning. NVDA Price Scenario — 24/7 Wall St.

Cramer's Half-Trillion-Dollar Prescription Cramer's remedy is louder. He wants NVIDIA to buy back roughly a tenth of itself, which against a $5. 46 trillion market cap pencils out to more than $500 billion.

NVIDIA's board authorized $80 billion in additional repurchase capacity on May 18, 2026, leaving approximately $99 billion remaining at quarter end. That is a fraction of what Cramer is asking for. Free Report, Just Released Did Any of Your Stocks Make the Top 10 List?

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Cramer recently disclosed his highest cash position in 25 years, then prescribed the largest corporate repurchase in history to lift a stock he says is mispriced. NVIDIA has been actively returning capital. Management said it returned "$26 billion to shareholders" in the latest quarter, comprising "$20 billion through share repurchases" and "$6 billion through our quarterly dividend of $0.

25 per share. " Why the Fundamentals Favor Ferragu NVDA Earnings Explorer — 24/7 Wall St. Q2 FY27 revenue reached $96.

22 billion, up 105. 8% year over year, with Data Center revenue of $89. 02 billion.

Non-GAAP EPS came in at $2. 22, the fifth consecutive beat. Huang told analysts that "AI is now doing productive and useful work" and "AI is generating profitable tokens.

" Consensus already reflects the acceleration: analysts model FY2028 EPS of 13. 1277 on revenue of $573. 6 billion.

At those earnings, a $400 share price requires a forward multiple in the low 30s, roughly where the stock trades now. The full-chain put/call ratio of 0. 48 shows options traders are positioned in Ferragu's direction.

Cramer's buyback demand may make headlines. Ferragu's math is the one that would compound. Got $1,000?

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