CNBC Investing Club: Cramer’s Morning Take on Intel 7/27/26

**SPEAKER_1** (0:00)
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**Jim Cramer** (1:02)
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 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.
We have got a market that is worried about rates. We have a market that is worried about oil. We have a market that is worried about overspending in tech. Which do you think are most important or is it the mosaic of all three?

**Jeff Marks** (1:35)
That's a good question. Probably tech, I would say. Tech is a big reason why the market has rallied over the last couple of years and it's a big factor in the S&P 500, largest weighting by far.
I would say tech, but at least for today you do have oil a little bit lower as there was a pause in strikes in the Middle East over the weekend.

**Jim Cramer** (1:58)
But I am concerned. I know that people have to be saying, Jim, you do have tech and you do own Nvidia and you do own Intel and I would come back and say, look, don't believe what you see necessarily over the longer term what's going on now because I felt that Intel had one of the best quarters and that will matter. But I don't miss this. I know there is a change in market and I think that's important because that's what we've been emphasizing.

**Jeff Marks** (2:27)
Yeah, certainly.
Well, it's an interesting day today because the spenders, the hyperscalers, they're actually up and then it's all these semis and components, they're lower. So a little bit of a reverse of what we've seen.

**Jim Cramer** (2:41)
Also software is up because they're not spending anything.

**Jeff Marks** (2:44)
Yes.
But that's what you talked about in your PCSJ, Jim, that if you spend being the hyperscalers out in light of Alphabet's quarter last week, you're going to be put in the penalty box. And Intel saw a similar thing. Maybe it was comments about CatPaks that turned investors away. The stock was at 110 at one point in the after hours, Thursday night, now down to 90

**Jim Cramer** (3:07)
Right. So I mean, look, we bought some and we just saw our usual. Next stop, 80, we'll buy some. I mean, we understand that's how we do things, but that's how we do things because we're causing up 140 percent. We're not going to sit there and buy it every single inch, but we do believe in it. Now, look, it's easier to focus on an Apple which is spending nothing.
By the way, when I speak to some people in the telco business, they're going to eat a lot of that big DRAM price increase in order to be able to get customers because there's such a scramble now that Verizon is starting to do better.

**Jeff Marks** (3:44)
We'll see Apple earnings Thursday night after the bell.

**SPEAKER_5** (3:47)
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