Cramer's Morning Take: Nasdaq Rally, AMD, Nvidia 3/29/23

Jim Cramer (0:01)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club Morning Meeting.

Right now, I got to tell you, Jeff, we're in one of those moments where, because of what happened with the banking segment, there's a lot of leeway for stocks to be able to rally, and that's exactly what's happening. And it's being led by the NASDAQ, including some of our friends in the NASDAQ.

Jeff Marks (0:23)

Yeah, do you think also could this be some type of end of quarter markup? You know, the NASDAQ greatly outperformed this quarter.

Jim Cramer (0:31)

People have to show their own apple. You know, thank you.

Jeff Marks (0:33)

Yeah, so some of that also in play, because treasury yields, they are slightly higher today, and we've normally seen when yields go up, NASDAQ doesn't outperform as much, I should say.

Jim Cramer (0:45)

Well, I mean, look, a lot of what's happening in NASDAQ has directly to do with NVIDIA.

Now, we've been riding the NVIDIA horse for a very long time, and that's because NVIDIA has now developed into both a software hardware company, and it's the principal reason how you can even have something that Elon Musk is worried about, which is ChatGPT and dehumanization of machines, well, of us. Now, look, I want to explain to people, if you spoke to MicroInference and say, look, sure, ChatGPT is coming, but we're far, far away from it. But the market can't resist, because it is a brand new story, and because Jensen Wong said, look, it's like the internet, it's like the iPhone, so it's broying the whole group. I'm glad we're involved in it, and I have no desire to sell it. By the way, Advanced Micro, very tough read from Micron. Micron's saying, it's fine, not giving you the high sign.

Jeff Marks (1:39)

So, he's talking about PCs when you mentioned that. They lowered their PC outlook for 2023 a little bit.

Jim Cramer (1:45)

Yeah, I did not get any comfort on Advanced Micro from anything that Sanjay said, but it's a data by the semis.

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