CNBC Investing Club: Cramer’s Morning Take on Johnson & Johnson 5/7/26

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.

Jeff Marks (1:23)

We did make some trades yesterday, taking profits in Goldman Sachs after a nice comeback off of its lows, big position there. So a little bit of a right sizing. We plowed that cash into J&J. Some healthcare names still struggling in this tape.

Yeah.

Jim Cramer (1:42)

I mean, we're being trying to be prudent and buying this down. Now, do I think it's going to return to this? I do think that this is one where you're going to wake up one day and J&J is going to be at 300 I don't know what to do.

I don't want to walk away from a whole sector, the second biggest sector that has a lot of opportunity that is just out of favor for now. In the same way, I didn't want to get rid of Microsoft at 390

Jeff Marks (2:07)

Yeah. Well, at least the fundamentals are good. Had a good quarter, had some good news on its robotic surgery system the other day that's gone unnoticed. So that is what gives us confidence to keep buying. Gradually.

Jim Cramer (2:21)

Bristol Myers, we left and we battled.

Jeff Marks (2:23)

Right. It was a replacement. I want to emphasize that we were taking out Bristol Myers, which was still a larger position than I think what J&J currently is.

Jim Cramer (2:32)

Yes, because we're being prudent. Now, I do want to talk about arm holdings, because I think it's very confusing to people. Arm holdings went up a gigantic amount. After hours, it went up even more. Now, after hours, there was a moment in the conference call where Renee Haas said, look, we were going to do a billion. It turns out we have to be able to do two billion. But then you find out it's a bit illusory because they don't have the chip commitment from Taiwan Semi. So then the stock went down and then further went down when, as you wrote in The Great Node, that they have seen cell phones turn soft. And then it went down again when he said, it's going to be down.

So you had this up and down last night. It was a real roller coaster, but it ended up, I think it's still be down another five points because I think people are a little bummed out that he doesn't have the stuff ready.

SPEAKER_5 (3:26)

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SPEAKER_6 (3:58)

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