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Following the busiest earnings day of the season, Jim Cramer on Friday offered his updated thinking on the six Club holdings that issued quarterly reports after Thursday’s close. Here’s a recap of what he said during the “Morning Meeting,” which is exclusive for Investing Club members. AAPL YTD mountain Apple’s stock performance year-to-date. Apple (AAPL) shares rose 4% on Friday despite the iPhone maker missing Wall Street’s expectations for sales and profit in its holiday quarter. A big reason why the stock could still rally is because everybody knew the numbers weren’t going to be great. Once Apple’s high-end phone supply normalizes from Covid-related disruptions, its U.S. business should come back stronger. Plus, Apple’s disclosure that it has 2 billion active devices is great news for its services revenue. Own it, don’t trade it. AMZN YTD mountain Amazon’s year-to-date stock performance. The Club’s still bullish on Amazon ‘s (AMZN) long-term prospects, but we’re not urging anyone to buy it Friday, even as the stock is off more than 4% in the session. While Amazon’s advertising business looks “incredibly strong,” Jim also said its highly profitable cloud computing business is “slowing rather dramatically” compared with recent years. That’s why, on net, Amazon is a wait-and-see situation. GOOGL YTD mountain Google parent Alphabet’s year-to-date stock performance. Google parent Alphabet (GOOGL) had the most disappointing quarter of them all Thursday night. While management on the conference call emphasized the company’s work on artificial intelligence amid perceived threats from the viral ChatGPT , that wasn’t enough to obscure the fact its advertising revenues were subpar. Jim also said he thinks management may be too glib about the Justice Department’s lawsuit concerning Google’s online ad business . The stock, however, did cut losses in Friday trading. SBUX YTD mountain Starbucks’ year-to-date stock performance. With shares down 3% Friday morning, Jim said he’s urging people to buy Starbucks (SBUX). Weakness in China played a big part in the coffee chain’s numbers coming in below expectations . However, business will pick up in the world’s No. 2 economy as the Covid reopening progresses and the surge in cases due to China ditching its zero-Covid policy subsides. F YTD mountain Ford’s year-to-date stock performance. No getting around it: Ford Moto r’s (F) quarter was terrible . We’re sticking with the automaker as CEO Jim Farley pledges to improve execution. But should the company report another bad quarter, our patience may be exhausted. “We will boot this stock if this [current] quarter isn’t good,” Jim said. Ford shares, which rose after General Motors ‘ (GM) strong earnings earlier this week, sank 6% on Friday. QCOM YTD mountain Qualcomm’s year-to-date stock performance. Shares of Qualcomm (QCOM) turned higher Friday, up roughly 1%, despite issuing weaker-than-expected first-quarter sales and guidance that also missed estimates. While fiscal Q1 earnings topped expectations, the stock move is a bit surprising. “I’m tired of Qualcomm,” Jim said. “I’d rather own Apple than Qualcomm.” (Jim Cramer’s Charitable Trust is long AMZN, AAPL, GOOGL, F, QCOM, SBUX . 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.
Analysts have been debating the demand for Apple’s iPhone 14 models amid a backdrop of rampant inflation, rising interest rates and fears of a global recession.
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Following the busiest earnings day of the season, Jim Cramer on Friday offered his updated thinking on the six Club holdings that issued quarterly reports after Thursday’s close. Here’s a recap of what he said during the “Morning Meeting,” which is exclusive for Investing Club members.
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