The Thanksgiving week gains were not enough to put all three major indexes in the green for November. The S&P 500 is up nearly 4% this week, and the Dow Jones Industrial Average is up more than 3%. This indicates that each is strong enough to generate a monthly rally. This extended his winning streak to seven months. And while the Nasdaq Composite Index ended the week up more than 4%, it wasn’t enough to overcome a selloff earlier in the month sparked by valuation concerns about artificial intelligence trading. The tech-heavy Nasdaq fell about 2% in November, ending a seven-month winning streak. .SPX YTD Mountain S&P 500 (SPX) Year-to-date performance There were some bright spots in our portfolio during the holiday-shortened trading week. Apple stock hit record highs three times in a row this week from Monday to Wednesday. Positive signs of demand for Apple’s iPhone 17 series are pushing up the stock price. Data from Counterpoint Research on Wednesday showed Apple is on track to dethrone Samsung as the world’s top smartphone maker this year. This is an achievement the iPhone maker hasn’t seen in more than a decade. Overall, Counterpoint analysts expect Apple to capture 19.4% of the global smartphone market in 2025, compared to 18.7% for Samsung. The stock rose further on Friday, ending the week up nearly 3%. Broadcom posted an all-time high closing price in every trading session this week. The stock is rising as Wall Street begins to see the chipmaker as an aid to Alphabet’s growing AI dominance. As Google begins rolling out its latest AI models, investors see an advantage for Broadcom as a co-designer of a specialized chip called a tensor processing unit (TPU). Broadcom’s management was spurred by media reports earlier in the week that Metaplatform was considering Google’s TPUs for its data centers in 2027. That’s because Alphabet’s AI expansion could help boost sales for Broadcom’s important networking and custom chip businesses, which was the main reason the club initiated a position in the stock. Broadcom stock has risen more than 18% since the beginning of the week. Fellow chipmaker Nvidia went in the opposite direction, sending its stock to a nearly three-month low on Tuesday, as the same report highlighted how some big tech companies were looking for alternatives to Nvidia’s chips. However, Jim Cramer recommended staying the course, calling the stock price drop a buying opportunity for new investors. After all, Nvidia still dominates the highly profitable AI chip market. “Demand is insatiable for Nvidia,” Jim said Tuesday. The stock has fallen 1% since the beginning of the week. NVDA YTD Mountain Nvidia (NVDA) Year-to-date Performance And while we didn’t see any revenue from the portfolio last week, Dick’s Sporting Goods’ quarterly report was great news for the club that owns Nike. Jim called the retail stock a buy on Tuesday after Dick’s announced plans to close multiple Foot Locker stores during its third-quarter earnings call. “Nike buys Dick’s problems,” Jim said. Management’s comments indicate that Nike’s relationship with the retail giant is improving, a positive sign for Nike’s turnaround story. “They’re moving in the right direction,” Ed Stack, executive chairman of Dick’s Sporting Goods, said on “Squawk on the Street” after the earnings release. He cited the strong performance of Nike’s running line. “If you look at what they’ve done with the running structure, what they’ve done with the Pegasus, what they’ve done with the Vomero, what they’ve done with the structure, this running concept has worked very well on the Dick side. It’s been placed in Foot Locker stores, and it’s done very well there as well.”Nike’s stock is up nearly 3% since the beginning of the week. NKE YTD Mountain Nike (NKE) Year to Date Performance Trades Finally, we executed two trades during the abbreviated holiday trading week. On Monday, the club bought more shares in Palo Alto Networks following the cybersecurity company’s exaggerated earnings decline. We viewed this weakness as an opportunity, given Palo Alto’s beat-and-raise third quarter that beat expectations across all key metrics. The Nov. 19 report showed that momentum for Palo Alto’s “platforming” strategy, which bundles products and services, remains promising. The deal from Palo Alto makes our view on the stock even more bullish. The company announced plans to acquire cloud management and monitoring company Chronosphere for $3.35 billion. Management’s acquisition of CyberArk, a leader in identity security, was approved by shareholders on November 13 and is expected to close in the third quarter of fiscal 2026. “Palo Alto Networks distinguishes itself in the AI era by adding two platforms just as their respective markets reach major inflection points,” Jeff Marks, director of portfolio analysis at Investing Club, said in a trade alert. The firm added a position in Procter & Gamble on Tuesday, marking the consumer products giant’s second acquisition since initiating the position on Nov. 18. The theory is that stocks will benefit from a rotation away from Big Tech and toward more economically resilient companies. Essentially, if AI spending slows or the U.S. economy slows, defensive stocks like P&G should shine. (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
