CNBC Investing Club: Cramer’s Morning Take on Memory Stocks 8/17/26

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Jim Cramer (0:47)

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.

I do feel that there is another leg and there's another leg because something like Elon Musk, what he tweeted, which is that memory is really the new coin of the realm. And I don't think people realize how short we are in memory because those companies got tired of killing each other by building. So I think that piece by you was excellent.

Jeff Marks (1:28)

Then we could pull up the chart of Micron MU, just to see what it's doing because of course we started a position last week, last Tuesday, spoke more about it on our monthly meeting Thursday. It's up a quick 20% from where we bought it, kind of reminding me like the arm trade back in the spring.

Jim Cramer (1:50)

Right.

Jeff Marks (1:51)

But yeah, it's the gross margins, it's what happens with free cash flow. Santa said they're going to buy back a lot of stock with their free cash flow, waiting to hear something similar from Micron.

Jim Cramer (2:04)

Now, let's just talk about, you mentioned the arm trade. Now, there was a moment where I felt that we were making too much money, meaning that you get into a situation, people at home listen to this because a lot of people say, when do you take profits? We took profits, I felt, in arm because I felt the least sure about arm.

At least sure, because they weren't able to get capacity. They don't have capacity from Taiwan Semi to do their plan. They don't, so therefore, I felt that they were most prone to disappointment, and that the ones we own are least prone to disappointment. Now, the one that I think is still like people can buy right now, because I think it's just an incredible situation, is Corning, because I do feel that Lumentum has gotten way ahead of it, and I just think, you know what, it's a pretty good situation.

Jeff Marks (2:49)

Yeah, and you got Intel, too, up nicely off that equity raise last week as well.

Jim Cramer (2:55)

Can we look a bit at Intel? Because I think Intel, the next thing you're going to hear is how they're doing really great packaging with Cadence. Remember, the Lippu Tan, the CEO of Intel, worked Cadence beforehand.

And Cadence is the secret to being able to do a lot of packaging, which is very good for Intel. I think that this, I reiterate that Intel right there is the cheapest stock in our portfolio. Right here, I obviously would not feel that way.

Jeff Marks (3:23)

And Lippu bought a ton of stock, too, into the deal, which is always a good sign of confidence.

Jim Cramer (3:28)

I think that this is the one, if you feel that you don't have a tech that is related to the data center, it would be Intel. If you feel that you have to be in memory, it would be Micron. Those are my two, and I'm not backing away. And I said that, I think, pretty effectively at our Thursday Club Media.

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