Cramer says health-care giant is a buy, warns not to chase rally in AMD

Every weekday, CNBC Investment Club with Jim Cramer hosts a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's highlights. 1. Stocks rose Wednesday after President Donald Trump spoke at the World Economic Forum, easing investor concerns by saying the United States would not use force to buy Greenland. "We have experienced an extraordinary revival [this morning]"said Jim Cramer, but added that the rally was being driven by the "wrong technology" and was heavily dependent on the price of Micron's dynamic random access memory (DRAM). The current shortage of DRAM chips used in consumer electronics has driven prices even higher. "I want people to understand where the hot money is going," Jim said. The club has no stocks in this category, which Jim says he's "soul-searching" and will cover in our January Monthly meeting on Thursday. It rose 9% to roughly $252. Club waited for a break in Alphabet's upward march before adding to the position. On the other hand, Jim said Johnson & Johnson is a buy. (We don't have AMD or J&J in our portfolio at the moment.) 3. Procter & Gamble reports earnings ahead of the opening bell on Thursday. warned investors that sales fell sharply in October and November. We focused on December's numbers and management's outlook, which could be revised modestly lower. Like Nike's new CEO Elliot Hill, we believe P&G's new leader, Shailesh Jejurikar, could turn things around. Stocks covered in Wednesday's rapid fire at the end of the video were: Netflix, United Airlines, Johnson & Johnson, Halliburton and Kraft Heinz (Jim Cramer's Charitable). Trust is long PG, GOOG, NKE, NVDA By subscribing to the CNBC Investment Club with Jim Cramer, you will receive a trade alert before Jim issues a trade alert if he has discussed a stock on CNBC TERMS AND CONDITIONS AND PRIVACY. POLICY, NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR SHALL BE GUARANTEED A PARTICULAR RESULT OR PROFIT IN CONNECTION WITH THE RECEPTION OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB.