CNBC Investing Club: Cramer’s Morning Take on Corning 7/30/26

**SPEAKER_1** (0:00)
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**Jim Cramer** (0:58)
Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 10:20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.
What I am focused on and what I think matters is that there was a hedge fund of Summer Now fund that was very big and lots of followers that blew up, meaning that the brokers all took over the positions and sold them. This was a fund called Situational that happened to have a lot of tech, a lot of hardware, and we've seen these stocks go down like Intel, where we couldn't figure out why it was going down like Micron, why it was going down. And suddenly we can figure it out, and so buyers are flocking to that group.

**Jeff Marks** (1:52)
Yeah, absolutely, a sign leverage, perhaps, almost out of the system. I've heard he was highly levered in a lot of this name. So Jim, when leverage looks like it's almost out, I can never say completely, but it's getting there.

**Jim Cramer** (2:08)
Yeah, Dave thinks it is. My partner says it is.

**Jeff Marks** (2:10)
So I guess the number one question is, is it time to be more positive around these chip names, these tech names, the AI theme at large?

**Jim Cramer** (2:19)
Let's step back for a second and just say that I've seen many a hedge fund blow up over my period of trading for the last 44 years. And it's one of the more sure signals to buy is when you know that they're clean. Now, when you know that this fund is no longer flailing around and selling things, hoping to be able to avoid the margin call, you first sell your really liquid ones, you sell your Intel, you sell your Micron, you sell your NVIDIA, and then you sell the illiquid ones, trying to raise the money. You sell the Nebius and the Irons. All that game is over. That book has been bought. In other words, these positions have actually been put away.
Given the positions are put away, you don't have any four sellers in the names that I just mentioned, and you buy. We have one that could have been the focus of it, which is Corning, and then we have another one, which was probably not the focus of it, which is Q.

**Jeff Marks** (3:17)
Yeah, look, these probably weren't in his names, but again, if you're going to be more positive on the group, maybe these are some stocks to look at. Is it at, you know, it traded in the low 110s at one point after earnings earlier this week. So, you know, not looking at the bottom here, but it's still 130 points off our highest sale.

**Jim Cramer** (3:40)
But, you know, what do you take about the fact that there were a couple of analysts who were upset about the third quarter forecast?

**Jeff Marks** (3:48)
I thought the forecast was fine. I mean, sure, the revenue guide was light, but I think it's really the reaction was maybe a little bit overextended given what we now know. I mean, the stock was absolutely destroyed.

**Jim Cramer** (4:00)
We sold some stock. The fact is that they stuck by their very long-term plan.

**Jeff Marks** (4:06)
Yeah.

**Jim Cramer** (4:06)
Wendell Weeks has never let us down. The long-term plan is actually what matters.

**SPEAKER_4** (4:11)
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