Cramer's Morning Take: AMD 10/15/24

Jim Cramer (0:02)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club Morning Meeting. Today is kind of a soggy day for a lot of stocks that's been strong, which are tax, but it's not a totally bad day. We got treasury yields are a little bit lower, and oil is really scaring people to some degree, it's down so much.

Jeff Marks (0:21)

Yeah, down a lot. Some of it is on these reports that Israel won't target Iran's oil and nuclear facilities in a retaliatory strike, so it's giving back some of that war premium, so to speak. Look, we have one position in Cotera in the energy space. It's very small.

Jim Cramer (0:40)

We never bought.

Jeff Marks (0:41)

We did a recent ad a couple weeks ago.

Jim Cramer (0:43)

Right, and we never bought into the whole idea that oil was going to have a big year.

Jeff Marks (0:46)

Yeah, and it's really, it's just there as a geopolitical head. And that's what it's for. And there's also, there's going to be more need to power a lot of things in the future. So there is that natural gas aspect, but not really buying this dip here. We did buy the dip in AMD this morning.

Jim Cramer (1:07)

Yeah, now that's what I want. It can go again down, we'll buy more. I mean, this is a very cheap stock versus Nvidia. And I think that people who don't have any AMD should buy some, because I think that there is room for more than one.

Jeff Marks (1:22)

Yeah, especially when you're talking about a TAM, a total adjustable market of over 500 billion that Lisa Su is talking about. Obviously, Nvidia is going to dominate that. But I think with the roadmap that Lisa Su outlined last week at the advancing AI event, they'll carve out an opportunity there. You know, there might also be some weakness today. Bloomberg reporting that the US is weighing a cap on sales of AI chips from Nvidia to AMD to some specific countries in the Persian Gulf.

Jim Cramer (1:51)

It's not a big deal, but I know that people feel that they should be selling some of these high multiple techs today. I do think that Marvell has got an insider buy of a million dollars by Matt Murphy, we know. That's the only one that is really hanging in there. I would be very careful. If I didn't own these, this may be your chance. That's why I like the AMD buy.

Jeff Marks (2:13)

I think a good point about Nvidia is that all of their chips, their AI chips are just on allocation with their customers. They all wish they could get more.

Jim Cramer (2:21)

So is Micron for their high bandwidth memory. They can't make them fast enough.

Jeff Marks (2:26)

Yeah, you had Micron CEO on last night on that.

Jim Cramer (2:29)

Yeah, Sanjay Marotra was the one made money last night. And he said the high bandwidth memory, which is the chips that go with Nvidia, they're all on allocation.

Jeff Marks (2:37)

Sold out. Yeah.

Jim Cramer (2:40)

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SPEAKER_3 (2:54)

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