Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Friday’s key moments. 1. Stocks fell on Friday as renewed concerns about spending on artificial intelligence weighed on the technology sector, extending a week of losses for semiconductor stocks. Early in trading, the VanEck Semiconductor ETF briefly entered bear market territory, falling 20% from its recent high, but buyers stepped in and recouped some of the losses. Portfolio director Jeff Marks said the decline reflected forced selling and profit-taking rather than a deteriorating AI story. He noted that the club’s recent liquidation of Corning and its exit from Arm helped cushion the impact of the layoffs, allowing it to inject capital into its portfolio should opportunities arise. 2. The club that holds Apple temporarily displaces Nvidia and regains the title of the world’s most valuable company. The iPhone maker rose after HSBC upgraded the stock to a buy and raised its price target from $260 to $366. The company says Apple’s improved Apple Intelligence platform, new AI capabilities, and anticipated launches will facilitate large-scale upgrade cycles, while its partnership with Alphabet allows it to reap the benefits of AI without the large capital investments that weigh heavily on hyperscalers. Jeff also pointed to Apple Intelligence approval for devices in China as another driver, saying it will expand access to features that will encourage customers to upgrade to new iPhones. Jeff remains bullish on Apple’s long-term prospects, but said the upgrade was “a little bit overdue” on Friday after the stock price rose significantly over the past two weeks to record highs. 3. Club name Inter will report earnings next week. The company will focus on continuing to strengthen the company’s CPU business and further advance its foundry business. Although the stock has fallen more than 30% this month as investors exited semiconductor stocks, we remain bullish. Jim has repeatedly called Intel his favorite stock and said he intends to “nibble” at current levels. 4. The stocks featured at the end of Friday’s video were Capital One, GE Vernova, Honeywell, and Alphabet. (Jim Cramer’s charitable trusts are long: AAPL, ARM, GLW, INTC, NVDA, Q. See here for a complete list of 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.
