Squawk on the Street

Cramer's Morning Take: Oracle 9/10/24

Jim and Jeff discuss the earnings beat for this software stock. 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:: 10 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. Linked in. The place to be. To be. Jim Kramer here to share with you a sample of my take on the market. From today's CMBC Investing Club Morning Meeting. We've got a really interesting market where the banks are down because of some comments made by JP Morton. We are a little oversold, just 0.42, not enough. But Oracle's conference, I always lamented Oracle because obviously a couple quarters had to give up on them because they just kept missing and missing. But when they got it right, they got it right big time. And this is reverberating throughout the market because Larry Ellison, who is the founder, said that they have 162 data centers. Well, you know we are heavily leveraged data centers. He needs 1,000 to 2,000 more. Yeah, or more. And the largest of these data centers right now will contain acres of Nvidia GPU clusters able to train the world's largest AI model. So certainly a big endorsement for the continued build out of these data centers. By the way, you don't hear Larry being talked about much with Jensen Wong. It doesn't matter. He's a huge customer. Yeah, and the move today, it's showing today also in the other hyperscalers, Amazon, who they announced a partnership with AWS, Alphabet, Microsoft as well. They're all trading higher in reaction to the results. And you also had, by the way, Taiwan, semi put out some numbers this morning. August sales of 33%. It didn't like that. Yeah, it sucks down. But I think the problem is Nvidia is not the way people are playing this. They feel like Nvidia's been played out. They are taking a look at a Microsoft. For instance, look at this. It can't hold. Now it can't hold because there are a lot of people who genuinely believe that this is unsustainable, that it shouldn't be up the most in the S&P. Well, I can't do that. I can't. There's like, let's just take it down to 90 where it's not. I mean, I don't know. I don't know what to say. I don't know the fact that they are the big winner from what Oracle's talking about. Sure. Absolutely. Not going to change any time soon. Join the CMC investing club with Jim Kramer. You catch my member exclusive morning meetings every day at 10 20 a.m. Visit cmbc.com/morningtake to become a member today. That's one word. Morning take. 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 cmbc.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]