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. Stocks fell Friday as renewed concerns about artificial intelligence spending weighed on the technology sector, extending a weeklong pullback in semiconductor stocks. Early in the session, the VanEck Semiconductor ETF briefly entered bear market territory, down 20% from its most recent high, before recovering some of its losses as buyers stepped in. Portfolio director Jeff Marks said the decline reflects forced selling and profit-taking rather than any deterioration in the AI story. He noted that the Club’s recent trim in Corning and exit from Arm have helped soften the impact of the retrenchment and gives the portfolio cash to deploy if opportunities emerge. 2. Club holding Apple briefly pushed past Nvidia to reclaim its title as the world’s most valuable company . The iPhone maker traded higher after HSBC upgraded the stock to buy and raised its price target to $366 from $260. The firm said Apple’s revamped Apple Intelligence platform, new AI features, and expected launches could fuel a major upgrade cycle while allowing the company to benefit from AI without the heavy capital spending weighing on hyperscalers, thanks to its partnership with Alphabet . Jeff also pointed to the approval of Apple Intelligence on devices in China as another catalyst, saying it expands access to features that encourage customers to upgrade to newer iPhones. While he remains bullish on Apple’s long-term outlook, Jeff said the upgrade comes after the stock’s massive run over the past two weeks to a record high Friday, making the call “a little bit late.” 3. Club name Intel reports earnings next week. We will be focused on continued strength in the company’s CPU business and further progress in its foundry operations. Shares have fallen more than 30% this month as investors rotated out of semiconductor stocks, but we remain steadfast in our bullish view. Jim has repeatedly called Intel his favorite stock and said he is still looking to “nibble” at current levels. 4. Stocks covered in Friday’s rapid fire at the end of the video were: Capital One , GE Vernova , Honeywell , Alphabet . (Jim Cramer’s Charitable Trust is long AAPL, ARM, GLW, INTC, NVDA, Q. 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.
We remain bullish on this chip stock despite a 30% pullback this month
