Don’t own any Apple? Gear up to buy some if the stock keeps falling
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. The S&P 500 and Nasdaq Composite rose Friday on the strength of big tech companies like Amazon, which owns the Club. The e-commerce giant reported a blockbuster earnings report on Thursday evening, highlighted by growth in its cloud computing unit. Shares increased by more than 10 percent. Friday is also the last trading session of October. Next week, club names such as Eaton, DuPont and Texas Roadhouse will announce quarterly results. 2. Don’t own any Apple shares? Jim Cramer advises that new investors should consider initiating positions if stocks continue to fall on Friday. Apple shares should be on the rise, given Thursday evening’s stellar quarterly earnings report that showed the iPhone maker’s shares have more room to move. Apple issued strong guidance and saw big revenue growth in its key high-margin services unit. “Let it come. And if you don’t have Apple, buy it,” Jim added. “It’s the same attitude we’ve always had: own it, don’t trade it.” 3. Investors should also consider buying more Nike and Boeing following the underperformance of Club names. Nike and Boeing shares are down nearly 7% in the past month. “We have a bad market for everything except technology,” Jim said Friday. Both the shoe giant and the aircraft manufacturer were unfairly punished, and their comeback stories remain strong. “These are companies that have improved greatly,” he added. We bought some Nike stock on Friday morning. 4. At the end of the video, the stocks covered in Friday’s rapid fire were: Chevron, Reddit, and Netflix. (See here for a complete list of stocks in Jim Cramer’s Charitable Trust.) When you subscribe to the CNBC Investing 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 waits 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.
