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 Wednesday's key moments. 1. The Nasdaq is rallying over 1.5% on Wednesday, in a rebound session for artificial intelligence stocks fueled by strong earnings from CoreWeave . Shares of the embattled neocloud are soaring over 20% and lifting shares of data center suppliers, including chipmakers. Jim Cramer said that even Nvidia is showing signs of life, up over 3.5%, in what could be its first positive day since the board on Sunday launched an investigation into CEO Jensen Huang's affair with an alleged Chinese spy. This isn't an across-the-board rally kind of day, though, evidenced by the Dow Jones Industrial Average falling by roughly 90 points, or 0.2%. "This is a day, once again, where you're a part of this ridiculous rotation. Today it's into technology, out of the soft goods," Jim said. "Other than ... the semis, it is still this rotational pattern that is very unnerving to a lot of investors." 2. Jim is ready to…
Jim Cramer's plan for our Intel position. Plus, a rotation loser to buy here
In short
Jim Cramer declared AMD the clear winner among central processing unit manufacturers and intends to build a position gradually once trading restrictions lift. The strategic pivot occurred on a day when tech shares rebounded, lifting the Nasdaq while the Dow dropped around 90 points. Beyond semiconductors, Cramer identified compelling buying opportunities in Kimberly-Clark following its recent Kenvue acquisition despite a single-day share drop.
Key points
- Jim Cramer plans to completely exit Intel to initiate a gradual holding in Advanced Micro…: Jim Cramer plans to completely exit Intel to initiate a gradual holding in Advanced Micro Devices once restrictions allow.
- DuPont spin-off Qnity Electronics is positioned for optimism due to its critical role sup…: DuPont spin-off Qnity Electronics is positioned for optimism due to its critical role supplying semiconductor materials.
- An expanded regulatory label for the cancer drug Rybrevant Faspro is expected to drive gr…: An expanded regulatory label for the cancer drug Rybrevant Faspro is expected to drive growth for Johnson & Johnson's oncology unit.