On Thursday, U.S. stocks declined as oil prices surpassed $100 per barrel, raising concerns about inflation. Jim Cramer noted that optimism around a potential peace deal with Iran diminished after reports indicated that Iran's supreme leader would not permit the export of enriched uranium. This situation contributed to rising Treasury yields.
Cramer viewed Nvidia's recent earnings-related pullback as a buying opportunity, encouraging investors to consider building positions in the stock. Notably, Arm Holdings, which benefits from Nvidia's success, saw its shares surge nearly 9% following Nvidia's earnings call, where strong demand for Arm-based CPUs was highlighted.
With Nvidia projecting around $20 billion in CPU-related revenue for the year, this positions them as a leading CPU provider, benefiting Arm through royalties. Cramer suggested that after Arm's significant gains, it might be prudent to take some profits.
Additionally, FedEx received a buy rating from Citi with a price target of $443, as the company focuses on market share and profitability improvements post its freight spinoff. Cramer expressed confidence in FedEx's potential, suggesting a target price that implies a 30% upside from current levels.
The discussion also briefly covered other stocks like Walmart, Ralph Lauren, Deere, and Intuit, indicating a broad interest in various sectors