On Thursday, stocks experienced a rebound following the Federal Reserve's indication of a possible rate hike, which had previously triggered a sell-off. Technology stocks, particularly in the semiconductor sector, led this recovery, with the iShares Semiconductor ETF rising over 6%.
Jim Cramer praised the new Fed Chairman Kevin Warsh for adopting a data-driven approach to monetary policy and advised against making decisions based on uncertain long-term forecasts. Intel's shares surged 8% to an all-time high after President Trump announced that Apple would collaborate with Intel on chip design and manufacturing in the U.S.
Although Intel has not confirmed this partnership, Cramer expressed renewed confidence in the company's turnaround, emphasizing its growing role in supplying CPUs for AI-driven data centers and the increasing demand for domestic chip production.
Additionally, Qnity's stock rose 7%, marking a 100% gain for the year, as investors begin to recognize its technological advancements in the semiconductor industry. Cramer believes that as Qnity is viewed more as a tech company, its valuation could significantly increase.
The commentary also briefly mentioned other stocks like FedEx, Pfizer, Accenture, and Salesforce, which were discussed at the end of the meeting