Cramer says this Big Tech stock should be bought after its blowout quarter
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CNBC Finance
3 min read
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 Friday 's key moments. 1. The stock market is lower Friday, despite investors largely favoring President Donald Trump's selection of Kevin Warsh to succeed Federal Reserve Chair Jerome Powell. "He's a little bit less frightened about inflation," said Jim Cramer, noting that the former investment banker and Fed governor is more aligned with the president's views. "He's more worried about growth. He's more worried about people doing better in the country." More earnings next week, including Eaton on Tuesday, Eli Lilly and Alphabet on Wednesday. Bristol Myers , Linde , and Amazon report on Thursday. 2. Apple shares are lower after posting a blowout quarter on Thursday evening, driven by a 23% jump in iPhone sales. "I don't think it's going to rally today, but I do think it should be bought," Jim said, noting the supply constraints and price volatility surrounding memory costs, which are key components in iPhone production. "The momentum to buy an iPhone is one of the strongest I've ever seen, especially back in China, and the company's not getting enough credit," Cramer added. 3. GE Vernova was upgraded to a buy rating from hold at Guggenheim, which also issued a $910 price target on the stock. Analysts pointed to the upside potential for free cash flow and EBITDA (earnings before interest, taxes, depreciation, and amortization) margins in the company's electrification division. GE Vernova's stock will shoot to $1,000, Cramer said, especially if Microsoft signs an energy deal with the company to support AI infrastructure. Earlier this week, shares of GE Vernova slid after weaker-than-expected earnings. However, we saw this as an opportunity and upgraded the stock to a 1 buy-equivalent and reiterated our $800 price target. 4 . Stocks covered in Friday's rapid fire at the end of the video were: American Express , Chevron , Sandisk, Deckers Outdoor , and Verizon . (Jim Cramer's Charitable Trust is long AAPL, GEV, ETN, LLY, GOOG, BMY, LIN. 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.
