Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. (We are no longer recording audio, so we can get this new written feature to our members as quickly as possible.) Setting the record: Bullish on how artificial intelligence is causing waves in society Thanks to this continued trend, the market hit a new high on Thursday. Spending on semiconductor chips and other technology. “Semiconductor makers are reacting to Micron CEO Sanjay Mehrotra’s incredulous comments that the high-end chip business is so strong that it has already been allocated,” Jim Cramer said. “There is,” he said. “This means it’s strong not only for Nvidia and Broadcom, but also for hyperscalers like Amazon, Meta Platforms, Alphabet, and Microsoft (and Synopsys, which I visited this week in California, which is also great).” Wait: It did it without Apple’s help all day long, even as the broader market strengthened. The iPhone maker’s stock price fell after the Justice Department charged the company with violating antitrust laws. “Let’s be clear, they’re going to be selling Apple all day long,” Jim said. “Inventory has no order. You have to make it sell. You might end up with a low price.” Then the engineer will make you sell it tomorrow. This is how Apple does business. But the Department of Justice did this to Google, and now you can’t even look at the chart and see where the lawsuit was filed. ” In October 2020, the Department of Justice filed an antitrust lawsuit against Google over its search practices. The Department of Justice has filed a lawsuit against Google alleging anticompetitive auction manipulation of digital advertising technology products. Let us finish the sale,” Kramer added. More IPOs coming?: The IPO market is finally starting to heat up. There was a lot of enthusiasm for Astera Labs on Wednesday, and its stock continues to rise. Reddit appears to be an early success. This is well based on the IPO price of $34 per share and the first trade at $47. Morgan Stanley is the lead underwriter for both IPOs, and this follows from earlier talk about the flywheel impact a healthy IPO market has on Morgan Stanley’s other businesses. ‘Stanley is the biggest beneficiary of his hot IPO market. Stock prices are still very low,” Kramer said. Existing home sales improved significantly: In February, sales rose 9.5% from the previous month to 4.38 million units compared to the expected 3.95 million units, the largest increase in a year. Market is Stanley Black and Decker’s tool and an important distributor of his business. The concept is simple. Newer homes don’t need remodeling or repairs, but older homes do. Homeowners are more likely to put money into a home after purchase. Mortgage rates still need to come down to get this market back on track, but this number was a step in the right direction. SWK stock rose about 3% on Thursday, extending its week-to-date gain to more than 8%. Other items: “We’re seeing weakness in many consumer staples stocks, but not Procter & Gamble. “If the smoke clears, that means PG will move higher,” Jim said. . The consumer staples sector was one of the laggards in the market on Thursday. The underperformance was likely due to Wednesday’s comments that the Fed still has three rate cuts this year, with Micron’s bullish comments favoring semiconductor and AI trades, as well as “We’re seeing retailers that aren’t as good as TJX go up,” Jim said. Was O’Ree’s quarter good?” Big earnings night and important interviews: With no Fed, earnings are in the spotlight. Thursday is a big earnings day, with Nike, Lululemon, and FedEx all scheduled to report. Cramer also spoke with Palo Alto Networks CEO Nikesh Arora on “Mad Money”: “Will Nikesh come out swinging tonight?” (For a complete list of Jim Cramer Charitable Trust stocks) , see here.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. Jim waits for 45. He ends up buying and selling stocks in the charitable trust’s portfolio within minutes of sending a trade alert. If Jim talks about stocks on his CNBC TV, after issuing a trade alert he will wait 72 hours before executing the trade. The Investment Club Information described above is subject to our Terms of Use and Privacy Policy, and our Disclaimer, and your receipt of information provided in connection with the Investment Club constitutes your fiduciary duties and obligations. does not exist or occur. No specific results or profits are guaranteed.
U.S. Attorney General Merrick Garland announced that he will file an antitrust lawsuit against Apple at the Department of Justice in Washington, DC, on March 21, 2024.
Mandel Gunn | AFP | Getty Images
Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. (In order to get this new written feature to our members as soon as possible, audio recordings will no longer be made.)
