Squawk on the Street

Cramer's Morning Take: Semiconductor Stocks 9/3/24

Nvidia along with several semiconductor stocks are seeing declines in the session. 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:: 5m
Broadcast on:: 03 Sep 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. Hey, it's Kramer. And this is my morning take on the market from today's CBC Investing Club morning meeting. We're off to a very weak start, except for when it comes to the consumer package, good stocks were just on fire. The semiconductor is getting rocked, even though the yields are a little bit lower. And I've got to tell you, I tell you, Jeff, with yields is low, and the semis revisiting their lows, getting interested. Why? Because what we have is a market that I think tests where a video was at the most ugly moment. Micron, trading through where it was when they have $92 buyback right now. We know that Qualcomm, they can always talk a very big game. And I do come back to Marvell Tech saying that they think that cell phone semis are on an upswing. So you do have a lot of areas that are up against that. You have an incredible piece by Mike Semblis who calls into question the idea of all the AI spending and says that it could be like the 1990s. I think the piece is too critical, but I pointed out that I think it's rock in the morning. Yeah, I mean, I think Nvidia got to around 95 back when the NBA carry traders blown up. So along the line of that thinking, it's still some ways to go. But it is the first trading day of September. September, historically, a horrible month. Yes. A week or a month for the market, actually. No, actually the worst. I shouldn't give a high probability. A week. But a week or a month, we have been raising cash ahead of that. Right. We're around nine, 10%. Trim some low interest. We're ready. Yeah. We're ready for the cell. I want people to understand. We are actually, I spoke with Jeff, it was like you behind the scenes. I was talking about buying some Disney, maybe buying some AMD. I think that I want to buy weakness here. Why? Because yields are surprisingly low. And because I think we're in a period where I just re-assembleds, by the way. We still have a huge amount of spending in tech. I'm going over what Marvell said. This is really attractive stock. I'm going over what Marvell said. And Marvell made a point of saying that end markets are strong. I'm not going to go against someone who knows what I did. This is Matt Murphy, saying that end markets are strong. At the same time, I do know that Nvidia is way too powerful. Still. In terms of the mindset, just too powerful. You mentioned yields. A lot of economic data this week. Jobs report Friday. Obviously the jobs report last time is what was one of the triggers of that early August decline. So we'll see there. And we're coming in a little bit over bought still. Have been that way for a while, though it is coming down. Well, do you think that Friday's closing was so ridiculous? You knew there could be some selling. And then on top of that, you have some timber selling. You don't have any counter action today. I think that makes sense. But I do it again. I am thinking that you can buy something here. Now I would love to take some of those Lilly proceeds and buy it when I felt that the market is suitably oversold. But we do not have that. Start your day with my outlook on the market every morning. Visit cbc.com/morningtake to become a CNBC investing club member at a special rate today. 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 and following any strategy or investment discussed in the content from Kramer. To view the full CNBC investing club disclaimer, please visit cnbc.com/investingclubdisclaimer. Let's say your small business has a problem. Like maybe... One of your doggy daycare customers had an accident. You might say something like... Talk on it! But if you need someone who can actually help, just say... And get help following a claim from your local state farm agent. For your small business insurance needs, like a good neighbor, state farm is there. (chimes)