Squawk on the Street

Cramer's Morning Take: Nvidia 8/6/24

Cramer calls this chipmaker a winner. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Duration:: 4m
Broadcast on:: 06 Aug 2024
Audio Format:: mp3

CNBC Investing Club Disclaimer

What's on the horizon for financial markets? At PJIM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialised across asset classes, but united in collaboration, our teams provide global and local expertise. Our investments shape tomorrow, today. Pursue your tomorrow with PJIM, a leading global asset manager. My dad works in B2B marketing. He came by my school for career day and said he was a big row as man. Then he told everyone how much he loved calculating his return on ad spend. My friends still laugh at me to this day. Not everyone gets B2B. But with LinkedIn, you'll be able to reach people who do. Get $100 credit on your next ad campaign. Go to linkedin.com/results to claim your credit. That's linkedin.com/results. Terms and conditions apply. Linkedin, the place to be to be. I'm Jim Kramer, and you're about to hear a sample taken directly from today's CBC Investing Club morning meeting. First, we know that the markets are indeed trying to hang in there. But tech is weaker. We've got a lot of stocks and tech that still can't get their own footing. We do have an oscillator that's -2.4. Now, this is very interesting. When the oscillator is -2.4. After a big down draft, it has tended to not been confirmative of a bottom. In other words, 2.4 is too high. It's going to go lower. This is the work of the people from market edge. And I think it's always worth noting because they've been very, very right. There's been a number of times where we've had a big down draft without the market being oversold and has meant that there is another down draft. I'm using that because I want people to be aware of what could happen. We did do two trades though. We bought some AMD. I think AMD is a winner, both because of the possibility that Intel is not going to be able to get out of its morass. And the possibility that Nvidia's Blackwell is somewhat delayed. Remember, Nvidia has the H100H200, so they're not going to be hurt. But we have to respect the fact that Nvidia's story is negative. We also, just in terms of - I had interviewed the assistant attorney general for antitrust, John V. Canada this morning on Squawk on the street, very negative about alphabet. Terrible. I mean betting that they've really done the wrong thing, they're a monopolist. And by collateral damage, of course, they're negative for Apple because Google writes a check to Apple that the Justice Department argued is anti-competitive and the judge agreed. Now we know that there's a couple of years you have to appeal, they'll be able to do this. It's not like that right now, Alphabet's going to say, you know what, we're not going to pay you any more Apple and good luck. That doesn't happen. So that matters. So and even, well, that's data center, but it's a derivative data center. You just showed you what, Dover, I don't want to give up on the data center thesis because that's a long-term secular trend. We need more power, and these are the companies that make it so that they're more powerful. We need more cooling. We need more - we need the grid fix. These are what we're staying with. And I like our thesis. Start your day with my outlook on the daily market every morning at 10.20am. Visit cnbc.com/morningtake to access all the benefits of being a CNC Investing Club member. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC Investing Club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC, Universal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment, or strategy. You should be aware of the risk of loss in following any strategy or investment discussed in the content from Kramer. To view the full CNBC Investing Club disclaimer, please visit cnbc.com/investingclubdisclaimer. Imagine earning a degree that prepares you with real skills for the real world. Capella University's programs teach skills relevant to your career so you can apply what you learn right away. Learn how Capella can make a difference in your life at Capella.edu. [BLANK_AUDIO]