Our newest stock seems unstoppable — plus, why Cramer calls Meta a ‘screaming buy’
Every weekday, CNBC Investment Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s highlights. 1. Stocks were mostly higher on Friday; The Dow was slightly down, while the S&P 500 and Nasdaq were up. All the action happened on Nasdaq, as chip stocks rose for the 18th day in a row; This time it’s fueled by Intel’s big quarter and a 20%+ stock increase. Encouraged by the move in chips, Jim Cramer said he wasn’t a big fan of the market on Friday, especially for our new position Arm that got burned. He thinks tech is too heavy and wants to see a broader rally. Jim blames oil, which he says has not fallen far enough for investors to allocate capital elsewhere. While the Morning Meeting was being taped, news broke that the Justice Department had dropped the criminal investigation into Fed Chairman Jerome Powell and removed the blockade from confirming his potential successor, Kevin Warsh. Earlier this week, the Senate Banking Committee held a hearing on Warsh’s nomination by President Donald Trump. 2. Ahead of next week’s earnings, Jim said, “We still recommend Corning.” He realized that Corning shares were doubling in value from year to year. Fiber optic cabling, Corning’s bread and butter, is in high demand as a replacement for copper in the age of AI data centers. Fiber runs fast and cooler, a winning combination for power-hungry data centers. We’re eager to hear whether management cuts further supply deals with hyperscalers. Backing this year’s raise at Corning, Meta Platforms agreed in January to pay up to $6 billion through 2030 to deploy Corning fiber into AI data centers. 3. The other nine Club names will announce their earnings next week. Microsoft is one of them. Jim said he “won’t sell” the software and the cloud giant. He acknowledges that the stock is going through a rough patch. But he thinks CEO Satya Nadella is aware of the problems and is starting to address them with a sense of urgency. Jim called Meta a “scream acquisition,” saying CEO Mark Zuckerberg balanced expenses and efficiency. On Friday, Meta announced a deal for Amazon Graviton CPUs, while on Thursday it confirmed major layoffs. Meta, Microsoft, Amazon and Google’s parent Alphabet report Wednesday night. (Jim Cramer’s Charitable Trust is long ARM, GLW, MSFT, META, AMZN. See here for a full list of stocks.) When you subscribe to the CNBC Investment Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trading alert before buying or selling a stock in his charitable foundation’s portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.
