Cramer's Morning Take: Broadcom 4/8/25

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Jim Cramer (0:58)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. Let's go with something that's really working well for us this morning. Wells Fargo, which was upgraded from hold to buy by a very important firm by Piper. I think this really matters.

SPEAKER_4 (1:17)

No, I've been reading this Piper analyst for a while because they have a hold. You always want to understand why some analysts have a hold. Why aren't they more bullish? And it sounds like they've liked the stock for a long time. Talk about this Wells Fargo transitioning from playing defense when they were so burdened by all these regulatory issues to now playing offense. You can see that through the IB, the investment banking push, the credit card ambitions they have that they point out. Also the fee growth.

Jim Cramer (1:46)

You still are down a lot. So if someone said to me, you should buy Wells, this is the problem. Well, no, I'm not going to buy it up to three. But if you bought it yesterday, obviously you wouldn't buy it up to three. We don't need Wells. We sold some Wells higher.

SPEAKER_4 (1:58)

Yeah, a little bit. I don't think we ever bought it back.

Jim Cramer (2:03)

We don't need to. We have a huge position. But if someone told me, listen, do you want to buy it up here? I'd say, let's just wait. See if it can't come down a little.

SPEAKER_4 (2:11)

They report Friday, so you'll hear from Charlie then.

Jim Cramer (2:13)

That's right. Now, we had more good news with Broadcom this morning with a gigantic buy back.

SPEAKER_4 (2:20)

Yeah, very important, sending a signal to the market that Hochtan thinks the stock is cheap. They announced a $10 billion buy back. It's through December 31st, so they got, call it eight months to put this money to work, 10 billion, so it's pretty fast.

Jim Cramer (2:34)

But look at this, again, look where it came from. Again, not high enough. This is down 38% yesterday, down 33% here from the top. I think this is a great situation, but do I want to come in and buy it up 13? That's not my stuff. So I'm hung. I can't buy broadcast here up 13 You had to buy it yesterday, and I felt like we had a big position. I don't know. We got hung like this on a bunch of them.

SPEAKER_4 (3:03)

Yeah, I mean, look, again, we'll have to see, again, how China responds, how Europe responds, you know, if we do see some good news there, then, you know, that will, look, there's, I don't think the market is cleared through all these trade negotiations and everything like that. So we just have to be, you know, a little bit patient, but definitely want to be constructed.

Jim Cramer (3:25)

But Hawk Tan must be thinking, look, we're doing great. Let's just go buy stock.

SPEAKER_5 (3:30)

Sure, no, it is good news.

Jim Cramer (3:32)

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