Cramer calls this chipmaker his No. 1 stock — and sees 63% upside ahead
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. Stocks were mixed Friday as investors weighed the possibility of a peace deal between the U.S. and Iran while preparing for the highly anticipated SpaceX IPO. The markets briefly turned lower after President Donald Trump warned that Iran “better get their act together” despite reports that a potential agreement remains on the table. Oil also came off its session lows but remained down about 1% near $87 a barrel as traders continued to bet that a diplomatic resolution could ease supply concerns. Jim noted that global oil supplies appear stronger than many investors realize, helping reduce the market’s sensitivity to Middle East disruptions. 2. SpaceX remained the center of the market’s attention ahead of its public debut. The offering was priced at $135 per share and was indicated to open around $165 . Jim said early signs pointed to strong demand and suggested the market may be absorbing the massive deal better than many investors feared. “We’re over the hump,” he said. Even so, Jim cautioned investors against chasing the stock immediately after it begins trading. “If you’re not in on the deal and have that low price, don’t touch it till a little bit closer to some benchmarks,” he said. Jim advises investors to wait until the company has established a trading history before aggressively buying shares in the open market. He also highlighted that Club holding Linde could benefit from growing activity in the space industry. 3. Shares of Club holding Intel climbed 5% Friday, adding to their roughly 9% gain on Thursday following a double upgrade by analysts at Bank of America. Jim reiterated his bullish view , calling Intel “the greatest story right now” in semiconductors and arguing that its prospects have surpassed even Nvidia . “It’s my favorite stock,” Jim said. “I think that Intel goes to 200,” implying roughly 63% upside from current levels. Jim credited CEO Lip-Bu Tan for restoring confidence in the business and said he believes “Lip-Bu Tan when he says that both the foundry is going to work and the CPUs are going to become a lot more valuable within the data center.” 4. Stocks covered in Friday’s rapid fire at the end of the video were: Williams Sonoma , AMD , Arm , and Lennar . (Jim Cramer’s Charitable Trust is long INTC, LIN, and NVDA. See here for a full list of the 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 a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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