CNBC’s Jim Cramer said next week could bring key technical stock responses after a blockbuster quarter from Dell Technologies added to the enthusiasm surrounding the data center trade.
“In retrospect, I wonder if we’ll say this was the time when Dell just took over the computer space,” the “Mad Money” host said Friday, calling the company’s latest investment the biggest “blowup” he could remember.
Tech dominated the market this year, especially companies tied to intelligence infrastructure. But he said one laggard has emerged: Nvidia.
That may begin to change next week when CEO Jensen Huang delivers a keynote address at Computex in Taiwan. Cramer said the event has historically been a “down time” for Nvidia and could include new announcements, especially for PCs. Executives from other key technology players such as Arm Holdings, Marvell Technology, Intel again Qualcomm will also be at Computex.
Cramer then turned to the previous week.
Monday
Apart from Huang’s presentation, Merck is expected to host a meeting reviewing its cancer portfolio following the annual ASCO conference, giving investors a closer look at the drugmaker’s pipeline.
Tuesday
Dollar General reports from behind the opponent The Dollar Tree posted stronger-than-expected results on Thursday. Cramer expects Dollar General shares to rise again.
After the bell, Palo Alto Networkswhich is a share in Cramer’s Charitable Trust, a portfolio managed by CNBC Investing Club, reports. While stocks often meet earnings before taking profits, Cramer said the rise of AI-driven cyber threats could support the results.
Ulta is reporting again after a difficult year, with shares falling sharply since its last earnings report in March. Deutsche Bank cut its price target on Friday ahead of the results. “It was surprising,” Cramer warned.
Wednesday
Manufacturer of medical devices Medtronic reports after the hard expansion of the broader medtech group. Cramer said he is not ready to be aggressive in the cell until he sees a quarter.
After the closure, two shares in the Charitable Trust – Broadcom again CrowdStrike – report. Broadcom “could deliver a good quarter” Cramer said, though the stock lagged behind other AI chip peers this year. CrowdStrike, meanwhile, has gone “parabolic” and may face profit-taking even on strong results, according to Cramer.
Discount seller Five Below it also reports. After a sharp pullback from its highs, Cramer said he likes the stock “a lot here.”
Thursday
Carrier Ciena reports after strong performance this year, although Cramer said the company’s proprietary technology leaves room for further growth.
Currently, Lululemon faces what Cramer described as a potential “reset quarter” amid continued turmoil, cautioning investors against buying the stock ahead of earnings.
On Friday
The Labor Department’s monthly jobs report closes out the week and may moderate expectations for an interest rate cut.
“It’s a very important number,” Cramer said, because it “needs to be weak enough to justify a rate cut” at the Federal Reserve under new Chairman Kevin Warsh.
