Cramer's Morning Take: Alphabet, Meta, & Amazon 11/27/23

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Jim Cramer (0:33)

Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. In conclusion, over and over again, which is we have a push economy.

We have good cyber sales. We have amazing, a lot of defaults for credit card. Everything keeps telling me stay the course, but just because we're so overbought, take something off the table, hence the real reason why we trimmed out.

Jeff Marks (0:59)

Yeah, and I wouldn't call the Alphabet trim a thesis changer or anything like that. Still a great company, great balance sheet, advertising revenues, accelerating last quarter. If they could figure out, get the margins higher in cloud, that would be a nice time. But our last trim was May 1st, I believe, up 25% since then.

Jim Cramer (1:20)

We did, in all fairness to us, we made it very clear. We were going to do this when we had the opportunity.

Jeff Marks (1:27)

Yeah, we said after the recent quarter, which we thought was an overreaction, we did say if the stock recovered the pullback from that third quarter pullback right here, that we would let some go while the stock has done that. And so it's just a small trim.

Jim Cramer (1:41)

Yeah, when we do these sales, look, I came to Jeff this weekend. I said, look, obviously, plus 7, we have to sell some, let's ready the alphabet. But we looked at other stocks.

I didn't mention that maybe Meta should be on the front and center as place that we should be doing some trimming. It's big position. I don't know.

Jeff Marks (2:00)

Yeah, no, of course, that's another one that because it's just had such a big move this year that it just becomes an overwhelming part of the portfolio.

Jim Cramer (2:08)

I want to make a point about Amazon.

Amazon's doing incredibly well. And you keep reading about how Amazon's developing its own ship.

This is a top five client, and they'll take anything they have. Now, one thing is that I get in my sourcing, Amazon's not a basher of Nvidia at all. It almost seems like it's the analyst trying to stir up a dispute where there is no dispute. Amazon needs every chip it can get because we saw what they did for, when they're bigger than UPS and bigger than FedEx, this is all about compute and compute power. And by the way, Amazon is very cheery about their energy use, and the Nvidia chips burn so much softer than the AMD chips.

Jeff Marks (2:55)

And I would say similar things about Microsoft as well. One of the announcements that came out of the Microsoft Ignite conference just the other week was their development of their own GPU, but they had that, but they also talked about strengthening their relationship with Nvidia, so I think it's very similar situations there.

Jim Cramer (3:11)

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SPEAKER_5 (4:09)

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Jeff Marks (4:24)

Thank you.