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 Monday’s key moments. 1. The stock market is lower on Monday as investors await new trade developments and book some profits following the S & P 500’s record close Thursday before the holiday weekend. “The history of this particular rally is that the profit-taking doesn’t last very long,” Jim Cramer said. After the Morning Meeting concluded, President Donald Trump said Japan and South Korea would be subject to 25% tariffs starting Aug. 1. Stocks moved lower on that news, which comes after Treasury Secretary Scott Bessent said earlier Monday on CNBC that “there would be several trade announcements over the next 48 hours.” The S & P Short Range Oscillator, our trusted momentum indicator, ended last week in deeply overbought territory, which is why Jim recommends that “no buying” gets done right now. 2. Club name CrowdStrike was downgraded to a hold-equivalent neutral rating from overweight at Piper Sandler. The cybersecurity stock reached Piper Sandler’s $505 target price after its big run higher, with analysts saying they don’t see a near-term catalyst to raise estimates. “The enterprise value now exceeds $125 billion and shares have extended to over 21 times our out-year revenue forecast and roughly 70x out-year free cash flow estimate,” analysts wrote. In response, Director of Portfolio Analysis Jeff Marks noted that we’ve periodically taken profits in CrowdStrike, evidence that we’re not ignoring the stock’s high valuation. Last week, Jim called out CrowdStrike as one of the company’s investors were wrong for doubting as the company recovered nicely from the massive July 2024 outage that impacted millions of Microsoft devices. Jim suggested Monday that some analysts could up their estimates in conjunction with the anniversary of the outage. 3. Citigroup raised its price target on Club name Nvidia $190 a share from $180, with analysts citing an expansion of their artificial intelligence total addressable market (TAM) forecasts. Citi analysts now project the TAM for AI data center semiconductors to be $563 billion in 2028, up from their prior expectation of $500 billion. Jim said he’s keeping an eye on whether Nvidia will regain an ability to sell some type of AI chip to Chinese customers following changes to Washington’s posture on chip design firms. “I am adamant that when the government gave Synopsys the greenlight and Cadence the greenlight [by lifting export restrictions to China], that maybe Nvidia can’t be all that far behind. They’re great partners,” Jim said. 4. Stocks covered in Monday’s rapid fire at the end of the video were: Applied Materials , Netflix , T-Mobile IBM , and CoreWeave . (Jim Cramer’s Charitable Trust is long CRWD, NVDA. 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.
Why Jim Cramer says Nvidia may score a win in China — plus, CrowdStrike gets downgraded
