Our new stock seems unstoppable – again, why Cramer calls Meta a ‘screaming buy’
Every weekday, CNBC Investing Club with Jim Cramer hosts a live “Morning Meeting” broadcast at 10:20 am ET. Here’s a recap of Friday’s highlights. 1. Stocks were higher on Friday, with the Dow slightly lower, and the S&P 500 and Nasdaq higher. All the action was on the Nasdaq as chip stocks rallied for the 18th day in a row; this time, Intel’s big quarter and stock pop of more than 20% is fuel. While we’re encouraged by the chips’ movement — especially our new position, the Arm, which has been on fire — Jim Cramer said he’s not a big fan of Friday’s market. He feels there was a lot of weight on technology, and would like to see a broader rally. Jim blames oil, which he says is not falling enough for investors to put money elsewhere. While the Morning Session was being taped, news broke that the Justice Department had dropped a criminal investigation into Fed Chairman Jerome Powell, clearing the way for the confirmation of his would-be successor, Kevin Warsh. Earlier this week, the Senate Banking Committee held a hearing on Warsh’s nomination by President Donald Trump. 2. Before next week’s earnings, Jim said, “We still recommend Corning.” He saw that Corning’s stock was on a tear, doubling year-to-date. Fiber-optic cabling, which is Corning’s bread and butter, is in high demand to replace copper in the age of AI data centers. Fiber runs fast and cool, a winning combination for power-hungry data centers. We’re curious to hear if management has cut any other hyperscaler supply deals. Backing this year’s move at Corning, Meta Platforms agreed back in January to pay up to $6 billion by 2030 to install Corning fiber in its AI data centers. 3. The other names of the nine Clubs that report salaries next week. Microsoft is one of them. Jim said he would “not sell” software to the cloud giant. He agrees that the stock has reached a bad place. But he thinks CEO Satya Nadella recognizes the problems and has begun to address them with a sense of urgency. Jim called Meta a “sad buy,” saying CEO Mark Zuckerberg equates spending with efficiency. Meta on Friday cut a deal for Amazon Graviton CPUs, while confirming on Thursday a major layoff. Meta, Microsoft, Amazon and Google parent Alphabet all reported Wednesday night. (Jim Cramer’s Charitable Trust is long ARM, GLW, MSFT, META, AMZN. See here for a full list of stocks.) As a subscriber 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 trade alert before buying or selling stock in his charity portfolio. When Jim talks about a stock on CNBC TV, he waits 72 hours after issuing a trade warning before making a trade. THE PRIVATE INFORMATION OF THE BURNING CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AND OUR PRIVACY POLICY. NO LEGAL LIABILITY OR OBLIGATION EXISTS, OR IS CREATED, BY YOUR ACCEPTANCE OF ANY INFORMATION PROVIDED BY CONTACTING THE INVESTMENT CLUB. NO PARTICULAR RESULT OR INTEREST IS GUARANTEED.
