Jim Cramer’s No. 1 stock pick just got another reason to rally
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 Thursday’s key moments. 1. Stocks rose on Thursday as traders looked to rebound after the Federal Reserve indicated the possibility of a rate hike this year, which sparked a Wednesday sell-off. Technology stocks led the recovery, with semiconductor names driving gains across the market. The iShares Semiconductor ETF rose by more than 6%. Jim praised new Fed Chairman Kevin Warsh for taking a more data-driven approach to monetary policy and cautioned against putting too much weight on long-term rate forecasts. “What matters is the data,” Jim said. “Stop making decisions based on data that you don’t have yet.” 2. Shares of Club holding Intel jumped 8% to an all-time high on Thursday after President Donald Trump said Apple would work with the chipmaker to design and manufacture chips in the United States. While Intel has not confirmed the arrangement, Jim said the development reinforces his confidence in the company’s turnaround. “This is my No. 1 name,” he said. “It’s not Nvidia anymore.” Jim remains bullish on Intel’s foundry business and its growing role in supplying CPUs for AI-powered data centers. He noted that major technology companies are increasingly seeking alternatives to overseas chip production, creating a large opportunity for Intel. 3. Club name Qnity rose 7% Thursday, extending the stock’s gain to more than 100% this year. Jim said investors are increasingly recognizing the company’s role in helping improve performance in the semiconductor industry through its advanced materials technology. He argued that the stock’s valuation could expand further as more investors begin viewing it as a technology company rather than a traditional materials business. “When it’s covered by tech analysts, you’re going to find that this is going to get a totally different valuation,” Jim said. “That’s one of the reasons why we’re hanging on.” Qnity CEO Jon Kemp will appear on Thursday’s ” Mad Money .” 4. Stocks covered in Thursday’s rapid fire at the end of the video were: FedEx , FedEx Freight , Pfizer , Accenture , and Salesforce . (Jim Cramer’s Charitable Trust is long AAPL, INTC, NVDA, and Q. 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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