The CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. On a recent Thursday, stocks jumped after a better-than-expected July retail sales report indicated strong consumer spending despite recession fears. Jim Cramer noted that the macroeconomic backdrop was very positive, especially for the Club’s retail names. Best Buy, TJX Companies, and Amazon all saw gains in their stock prices following the report, with Amazon continuing to recover from post-earnings losses earlier in the month. Jim believes it’s still a good time to invest in Amazon and the Club added to their position on Monday.
Incoming Starbucks CEO Brian Niccol received a lucrative pay package but is seen as worth it due to his track record of successfully turning around companies. Niccol’s hiring caused Starbucks’ stock to surge nearly 25% as investors anticipate positive changes under his leadership. Jim expressed confidence in Niccol’s ability to address issues facing Starbucks, similar to how he previously helped Chipotle recover from food safety issues. The Club plans to remain invested in Starbucks, believing there is potential for positive developments with Niccol at the helm.
Apple’s stock rose over 1% after Morgan Stanley analysts increased their estimate for iPhone 15 builds, signaling strong demand for the upcoming device. This was seen as encouraging news, especially as anticipation builds for the launch of the iPhone 16. Jim reiterated his belief in a multiyear upgrade cycle driven by consumer interest in devices with artificial intelligence features. The CNBC Investing Club’s Charitable Trust holds positions in Best Buy, TJX, Amazon, Starbucks, and Apple, and Jim Cramer provides trade alerts to subscribers before making any trades in the portfolio.
Subscribers to the CNBC Investing Club receive trade alerts before Jim Cramer makes any trades in the portfolio. Jim follows certain guidelines before executing trades, such as waiting 45 minutes after issuing a trade alert and 72 hours if the stock was discussed on CNBC TV. The information provided by the Investing Club is subject to terms and conditions, privacy policy, and disclaimer. It is important to note that receiving information from the Investing Club does not create a fiduciary obligation or guarantee specific outcomes or profits. Investors should consider the risks and conduct their own research before making investment decisions.
