Jim Cramer Says Mag 7 Slump 'Hurt'— Then a Cheese Salesman Thanked Him for a $13 Million Nvidia Win

CNBC commentator Jim Cramer shared a unique experience he had after publishing his views on the underperformance of the Magnificent 7 story.

Cramer took to X late Tuesday and wrote, “I did a tough piece this evening about the Mag 7 underperformance.

It hurt.” The CNBC host then went on to share an encounter with a cheese salesman who thanked him for his Nvidia Corp. (NASDAQ: NVDA ) recommendation, showing him a $13 million profit in the stock. “He showed me his account: he had a $13 million profit in the stock.

It was a good night.” wrote Cramer.

I did a tough piece this evening about the Mag 7 underperformance.

It hurt.

But then a nice man came up to me at dinner, identified himself as a cheese salesman and thanked me profusely for Nvidia.

He showed me his account: he had a $13 million profit in the stock.

It was a good… — Jim Cramer (@jimcramer) July 1, 2026 Read Also: Nvidia Isn't The Expensive AI Stock Anymore—AMD, Palantir And ARM Are Cramer Backs AI Chip Suppliers “Magnificent Seven”, a term used to refer to the seven leading tech companies, Apple Inc. (NASDAQ: AAPL ), Google parent Alphabet Inc. (NASDAQ: GOOGL ) (NASDAQ: GOOG ), Amazon.com Inc. (NASDAQ: AMZN ), Microsoft Corp. (NASDAQ: MSFT ), Meta Platforms Inc. (NASDAQ: META ), Nvidia and Tesla Inc. (NASDAQ: TSLA ), lost about $2.3 trillion in market value in June amid a heavy sell-off as investors questioned whether their massive AI investments would generate sufficient returns.

Cramer said on CNBC’s “Mad Money” on Tuesday that Wall Street is rewarding AI suppliers while punishing their biggest customers, arguing that chipmakers benefiting from surging AI demand are outperforming the hyperscalers.

He highlighted Micron Technology Inc. (NASDAQ: MU ), SanDisk Corp. (NASDAQ: SNDK ), Marvell Technology Inc. (NASDAQ: MRVL ), and Advanced Micro Devices Inc. (NASDAQ: AMD ) as top second-quarter winners, naming Intel Corp. (NASDAQ: INTC ) as his current favorite stock.

Previously, Tech investor Dan Niles said that he is trimming investments in hyperscalers, chip stocks, and other “Magnificent Seven” companies, anticipating a near-term “speed bump” amid concerns over soaring AI infrastructure spending weighing on returns.

On Nvidia, Cramer said the company remains a leading supplier of AI computing power, but its stock has lagged as investors worry about rising competition from custom AI chips.

NVDA Price Action: On a year-to-date basis, Nvidia stock surged 5.95%, as per Pro.

On Tuesday, it closed 2.63% higher at $200.09.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

Image via Shutterstock Read Also: Micron Stock Is Up 300%.

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