Cramer's Morning Take: Big Tech 9/9/24

Jim Cramer (0:02)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting.

SPEAKER_2 (0:09)

I know in the piece you wrote last night, it came out last night, Apple obviously won, could be an interesting week for them. They do have the glow event.

Jim Cramer (0:20)

I didn't like the glow event. The reason I didn't like the glow event is that they're still not ready with a lot of the AI. And also it seems like AI may not be as much of a selling point. So we do have more of a battery life, you need to refresh kind of thing. They don't make enough of that, but I think a lot of people feel like you have to refresh if you're gonna have more battery.

SPEAKER_2 (0:37)

We'll have to stay tuned to the actual event. And then Alphabet, you point out the hardest of the group because of DOJ, search risks. But every time we've trimmed it's rallied.

Jim Cramer (0:49)

I know, but yeah, I know. And I was debating. I was telling my wife this and I said, I felt very, when I did the piece, I felt like, wait a second, is it too late to sell Alphabet? And the answer is, I could argue, well, what were you thinking at $190 would you be selling it at $150? Which, by the way, is something I'm going to talk about on our meeting on Thursday, our club meeting, because it's a very specific thing. Yeah. And I really want to drill down on this particular question, because I think a lot of our club members are very concerned about the MAG-7.

And are thinking about maybe it's time to jump ship or should we have jumped ship already?

SPEAKER_2 (1:27)

Well, you also put on the other hand, Amazon may be the cheapest if you look out a few years on the earnings, deserving of a higher multiple because they are monetizing AI.

Jim Cramer (1:35)

One of the things that Amazon is doing right now, what are they using for AI? This is very interesting. What they're most concerned about in terms of being able to save per package is if they see a pattern of, let's say you order 8 o'clock and then you order 10 o'clock. They've seen that pattern, so they can then flag you and realize, wait a second, I should batch that person's, whatever presence or get that person's stuff that they would have bought at Walgreens, and then do one truck rather than two, so they would lower the price of the package. That's how they're using AI and that is a fabulous use case.

SPEAKER_2 (2:10)

Fabulous. Yeah, and then Meta as well, just how they're using AI to, in the future, they could create their own ads for consumer-stable companies.

Jim Cramer (2:18)

No, this is a, remember, you gotta stay focused on what Nvidia's really doing. Nvidia's switching Blackwell, the new chip, is about video. So if you can imagine, if you could put video ads on Instagram representing a Clorox or a Gillette, that is a home run because those companies spend billions to their advertising companies. And by the way, they're cut out almost entirely if you look at this. Join the CNBC Investing Club with Jim Cramer to catch my member-exclusive morning meetings every day at 10:20 a.m. Visit cnbc.com/morningtake to become a member today. That's one word, morning take.

SPEAKER_3 (3:06)

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