Oracle reports earnings after the bell. Where Jim Cramer is on the stock
Every weekday, CNBC Investment Club hosts “Morning Talk” live with Jim Cramer at 10:20 a.m. ET. Here’s a look back at Monday’s key moments. 1. Stocks opened the week higher, especially the Nasdaq, as club name Apple Inc (AAPL) stabilized after falling last week on China concerns. Jim Cramer traveled to San Francisco to check out how tech companies have been doing lately and attend the Clubhouse name Salesforce (CRM) Dreamforce event. CEO Marc Benioff will deliver a keynote address on Tuesday. Tuesday will be a busy day: Apple will host its iPhone 15 event and Alphabet’s (GOOGL) Google Search trial will begin. Then on Wednesday and Thursday we’ll get the latest consumer inflation and wholesale inflation data. We’ll also be keeping an eye on any car strikes later this week. The current UAW labor contract expires at 11:59 p.m. Thursday. We own Ford (F) stock. 2. According to the Wall Street Journal, citing people familiar with the matter, club name Meta Platforms (META) is developing a new, more powerful artificial intelligence system to rival OpenAI’s most advanced models. Meta is said to be building data centers and buying more H100 chips from club name Nvidia (NVDA). Meta has partnered with OpenAI backer and club holding company Microsoft (MSFT) to offer its artificial intelligence language model Llama 2 on Microsoft’s Azure cloud. However, Meta plans to train the new model on its own infrastructure. 3. Oracle (ORCL) earnings are scheduled to be released after the market close on Monday. Ahead of the numbers, Citi raised its price target to $138 per share. The price was lowered to $121 from $121, but the Neutral rating was maintained. Citi expects growth to come primarily from Oracle Cloud Infrastructure as momentum continues. However, it argued that because OCI’s profit margins were lower, the quality was lower. We disagree that this would be called lower quality, as we noted in last week’s Club Earnings Preview story. Deutsche Bank said its on-site inspection remained “net constructive” but called it the seasonally least important quarter of Oracle’s fiscal year. While we like Oracle and want to buy more shares in the future, we recommend investors who don’t own the stock to wait and see the numbers before taking any action. (Jim Cramer’s Charitable Trust is a long-term holding of AAPL, CRM, GOOGL, F, META, ORCL. See here for a complete list of stocks.) As CNBC Investing Club Jim Cramer As a Jim Cramer subscriber, you will receive trade alerts before Jim Cramer trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation shall exist or arise upon your receipt of any information relating to the Investment Club. No specific results or profits are guaranteed.
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