Cramer's advice on Disney stock after earnings, and Amazon makes a smart AI move

CNBC

a day ago

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 Wednesday's key moments. 1. The S & P 500 was modestly higher Wednesday morning while the 30-stock Dow Jones Industrial Average was lower, pulled down by losses in Amgen and Club name Disney on the back of earnings. Jim Cramer said he looks at Disney's earnings-related decline as a chance to buy some stock, recommending investors only buy a portion of their desired position size. If they want to own 100 shares, start with 50 on Wednesday, he said. We'll have our full earnings analysis out later in the day. "Today seems like a day devoted only to the hottest stocks in the universe," Jim said. "What we have to do is try to help people make money by looking at the stocks that have been left behind by this headlong rush to the go-go stocks like a Palantir , and we own a lot of them, and they are opportunities." 2. Amazon's deal to bring OpenAI's new "open weight" models to its AWS cloud service is a smart move that should help counter the narrative that it's falling behind on generative AI computing. This belief gained steam following the recent Big Tech earnings reports, which saw Microsoft's Azure and Alphabet's Google Cloud post faster growth rates than AWS. This is the first OpenAI models to be available on AWS, which is still the largest cloud platform by revenue. "I think this is all going to sort out in the wash and 18 months from now, you won't be able to tell the difference between [Azure and AWS]. I don't think you should sell" shares of Amazon here, Jim said. 3. Jim reflected on some of the recently struggling stocks in the portfolio, arguing that periods of underperformance do not necessarily mean investors should head for the exits. "I am more interested in things that don't excite because if it's exciting people, it's already moved. That's important," he said. Looking to buy shares of Club name Apple , which bounced Wednesday on news of additional U.S. investment commitments, when they traded in the low $200s apiece "is more my style" than chasing the name when it was higher, Jim said. "I can chase a Palantir. I can do GE Vernova , but the fact is that when a Honeywell is down, when a Dover is down, when an Eaton is down, that's what ... we do because we can't chase. We run a Charitable Trust. But I think people at home can't chase either. And if they do, for every one Palantir, you're going to have one that's going the other way." 4. Stocks covered in Wednesday's rapid fire at the end of the video were: McDonald's , Arista Networks , AMD , Uber , and Amgen . (Jim Cramer's Charitable Trust is long DIS, AMZN, MSFT, AAPL, DOV, GEV, HON and DOV. 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.