Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. JPMorgan CEO Jamie Dimon’s annual letter to shareholders is out. He believes artificial intelligence can be as revolutionary as the printing press, steam engine, electricity, computing, and the internet. He also predicts a broad range of interest rates from 2% to 8%. Jim Cramer expressed optimism about JPMorgan’s upcoming quarter after reading Dimon’s letter, but he also sees potential challenges ahead. JPMorgan and Wells Fargo will kick off earnings season on Friday.
In other news, Tesla saw a volatile day with shares up over 4% after CEO Elon Musk announced a robotaxi event for August. Jim Cramer criticized Tesla for its focus on the robotaxi and CyberTruck, suggesting they should address other issues.
Taiwan Semiconductor Manufacturing Company received $6.6 billion from the U.S. government to build three plants in Arizona, a move praised by Jim Cramer for enhancing chip manufacturing security.
Take-Two Interactive was upgraded to a buy by Citi analysts due to the perceived risk-reward ratio, despite uncertainty around the release timing of Grand Theft Auto 6.
Fastly was upgraded to a buy-equivalent overweight rating by Piper Sandler, with analysts citing the company’s market share gains in the content delivery network sector. Jim Cramer speculated on potential consolidation in the content delivery market.
Jim Cramer discussed various stocks in the news outside of the CNBC Investing Club portfolio. He mentioned JPMorgan, noting CEO Jamie Dimon’s optimistic outlook on the revolutionary potential of artificial intelligence and his prediction of interest rates ranging from 2% to 8%. Cramer believes that JPMorgan may have a good quarter but also sees potential challenges ahead. He also commented on Tesla’s volatile stock performance, with shares rising after CEO Elon Musk announced a robotaxi event. Cramer expressed skepticism about Tesla’s future success. He also discussed Taiwan Semiconductor Manufacturing Company receiving $6.6 billion from the U.S. government to build plants in Arizona, emphasizing the need for chip manufacturing security. Additionally, Citi upgraded video game stock Take-Two Interactive to buy, citing favorable risk-reward ratio after a sell-off. Cramer questioned Citi’s knowledge of when Grand Theft Auto 6 will be released. Finally, he mentioned Fastly being upgraded by Piper Sandler, speculating on the potential consolidation of the content delivery network market.
Source link