Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Taking a breather: Stocks were mixed on Friday. Nothing is wrong with a pause or a breather following a big four-day winning streak that sent the Dow Jones Industrial Average , the S & P 500 , and the Nasdaq Composite to record highs. The S & P Short Term Oscillator wasn’t technically overbought after Thursday’s rally, but it wasn’t close. AI catalysts ahead: The newsy Alphabet headline Friday was Wedbush adding the stock to its Best Ideas List and increasing its price target. However, it wasn’t the only bullish piece of research on the internet giant. Morgan Stanley also wrote a positive note on the Google parent — outlining five potential catalysts over the next three months that could show how the company can benefit from generative artificial intelligence and using AI tools to improve its ad business. The key events are: Google Cloud Next conference Q1 earnings Google I/O Google Marketing Live Apple’s Worldwide Developer Conference, also known as WWDC Google shares got a big boost at the beginning of the week on a report that it has held talks with Apple about bringing the large language model Gemini to the iPhone . “When will we hear about the Google-Apple tie-up? Next week, or not at all? That story has yet to be confirmed,” Cramer said. Another AI assistant to keep an eye out for is Claude, which was developed by the private company Anthropic. Amazon and Alphabet are notable investors in the AI startup. “Amazon/Anthropic is gaining share at an impressive rate. It might be the next big thing” Cramer added. Alphabet, Apple and Amazon are all Club stocks. Cramer’s quick hits ” Abbott Laboratories should be bought the legal exposure is not as great as people think.” We bought…
Read the full article here
