Tuesday’s Morning Meeting livestream with Jim Cramer highlighted the incredible performance of Nvidia, as the Nasdaq surpassed 17,000 for the first time ever. Shares of Nvidia rose 5% on Tuesday, continuing their upward trajectory from last week’s rally. Jim Cramer noted that Nvidia is gaining significant mindshare, potentially leading investors to prioritize this stock over others in the market. This surge in Nvidia’s stock price could be influencing the broader market as investors reallocate their portfolios.
Apple stock saw a nearly 1% increase on Tuesday due to reports of increased demand for the iPhone in China. Shipments of iPhones in China surged by 52% in April, a substantial rebound from the previous month. However, Jim Cramer expressed skepticism about the accuracy of these numbers, cautioning investors against interpreting them at face value. He highlighted the volatility and potential inaccuracy of iPhone shipment data, noting that seasonal factors and fluctuations in demand can skew the numbers.
Citi upgraded DuPont to a buy rating and raised its price target on the stock to $95 per share from $85. This decision was based on DuPont’s plan to separate into three publicly traded companies, which analysts believe will drive further upside for the stock. Similar sentiments were echoed by BMO Capital and Wells Fargo Securities, who also upgraded DuPont following the announcement. Jim Cramer shared his optimism about DuPont reaching $100 per share, indicating a positive outlook for the stock’s future performance.
As a subscriber to the CNBC Investing Club with Jim Cramer, members have access to trade alerts before Jim makes a trade. Jim follows a specific protocol, waiting 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. Additionally, if Jim discusses a stock on CNBC TV, he waits 72 hours after issuing the trade alert before taking action. This disciplined approach ensures transparency and fairness in managing the portfolio.
Overall, the Morning Meeting provided valuable insights into the market dynamics and specific stock movements. From the surge in Nvidia driven by strong performance to the cautious outlook on iPhone demand in China, investors gained a comprehensive overview of key events. The positive sentiment surrounding DuPont’s strategic decision to split into separate entities also reflected a favorable market outlook. By following Jim Cramer’s trade alerts and adhering to the recommended portfolio management practices, subscribers can make informed investment decisions while navigating the complexities of the financial markets.
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