Jim Cramer and Jeff Marks discuss the recent moves in several semiconductor stocks. 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
Squawk on the Street
Cramer's Morning Take: Chipmakers 6/24/24
Jim Cramer and Jeff Marks discuss the recent moves in several semiconductor stocks. 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:
- 24 Jun 2024
- Audio Format:
- mp3
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. I'm Jim Kramer, and you're about to hear a sample taken directly from today's CMC Investing Club morning meeting. Today it looks like this is the Bears' Worst Nightmare. We've got money coming out of the MAG-7, so to speak, although of course there is no 7 anymore, there's really just a video company. And going to all sorts of industrials, but also the food group and the oils, this is what the Bears should be most worried about, which is the broadening out. I've always felt that you shouldn't consider that it concentrated a group of stocks that go up a bad market, because if the money broadens out, well then what do you have a good market and what did you do, sell before a good market? I think that's a good point, and just focusing on Nvidia, the stock Tuesday became the largest market cap in the world, it passed Microsoft. And then Wednesday you had some stories come out saying, "Well could it be the next Cisco and the .com?" And it's been down ever since some other semiconductor names are kind of following a long day, but could it continue to go down? I mean it's just had such a big run. Well this is when people realize, "Holy cow, look, I do have more stock than I thought I did, let's let some go." I had an interesting conversation with Gordon, so I was indeed in the Teton area and also in Montana, and one of the things I said was, "Wow, you know, they're really going to come here for Nvidia and they shouldn't," and my elder said, "Dad, you know Nvidia, you spend a lot of time there, you understand what they do. The people who have just been fellow travelers who have no idea what they do, they're going to sell the moment the sink starts rolling over, and that's, look, my kids have been schooled by a mom who was a great trader and by a dad who tries to have some sort of relevance, and boom, you get this situation where you realize, "Well wait a second, maybe a lot of people don't know what Nvidia does." Sure, fair enough, I mean we could pull up the chart of Broadcom too. We were finally able to trim that Tuesday right before the big decline, and that was really just out of fear of parabolic moves, which what you see here, we always say we don't like parabolic moves because they're unsustainable. So we took some 10 shares off of Broadcom, funneled that into Dover, which is rallying with you. And that's the industrial rally along with you. I would point out that last summer, this broke down, and we thought that it was broke down incorrectly off the quarter, and then you remember that buyer stepped up from the board? Yeah, absolutely. They bought a handover fast, a hot hand was buying a bag. I wanted to tell people, look, when you see a real insider buy a lot, not a little bit like a hundred thousand dollars, but a lot, that's a very good sum. Start your day with my outlook on the daily market every morning at 10-20 a.m. Visit cmbc.com/morningtake to access all the benefits of being a CNBC investing club network. 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/investingclub disclaimer. Looking for the right rewards credit card but not sure where to start? The editors at CNBC Select have done the work for you, ranking the best credit cards out there, comparing rewards, annual fees, welcome bonuses, and so much more. Whether you're looking to earn more on everyday spending like groceries, gas, and dining, or if you want to rack up points for travel, there's a credit card out there for you. Let's see NBC Select help you find ways to earn hundreds of dollars in rewards based on your spending habits. To find the best credit card for you, head to cndcselect.com.