Cramer's Morning Take: Starbucks 9/2/25

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Jim Cramer (1:03)

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

SPEAKER_3 (1:12)

Why don't we set up the week here on earnings. We're gonna see Salesforce after the closing bell on Wednesday. Morgan Stanley, they raised the price target to $1 to $4 or $5. So I mean, look, that's a big, that's a lot of upside from here. They tried to lay out the bullish case today. They said their checks were generally stable, but they see traction with agent force deals, pricing tailwinds, and what they called a moderating mechanical headwinds, supporting reacceleration in county or 2026 So still a couple quarters away from that, but they think, you know, they're saying stick with it here.

Jim Cramer (1:48)

Yeah, the agentics program that Mark has, Mark Penney, the CEO, apparently is working to the point that they have been able to lay off 4,000 people. People are expensive at Salesforce. That's not bad, but I have to tell you, I don't think that's what people are in Salesforce for.

SPEAKER_3 (2:04)

Yeah.

Jim Cramer (2:04)

I think they're in it for growth.

SPEAKER_3 (2:05)

And then Broadcom after the bell on Thursday, you had Morgan Stanley, they increased their price target to 357 this morning. They're looking for ASIC. That's the custom accelerators, that revenue acceleration for next year.

Jim Cramer (2:19)

This was at 290 This is another one.

SPEAKER_3 (2:22)

Earlier this morning, right?

Jim Cramer (2:23)

But it's for the gunslingers right now. You know, we don't play the game of buying ahead of a quarter. That's not our stuff.

SPEAKER_3 (2:29)

Yeah. And then the jobs report Friday, which we know from what Jerome Powell said at Jackson Hole just the other week, that there is more downside risk to the labor market, which could force them to lower interest rates at the meeting this month.

Jim Cramer (2:47)

And that's exactly what we won. I would say that there was a discussion, very interesting, with Treasury Second Investing about housing emergency. There is a zoning problem. Now, this was something that the four places, the Atlantic, which is not a favorite, not the president's, talked about how the problem here is that you can't get zoning to build homes, that nobody wants new homes, so therefore it's a limited number of homes. The home builders have done very well because they really did not, they haven't had to over, they haven't overbuilt. Historically, they've overbuilt. So just be aware that there's that story out there, and it's told by others if you want to be able to do some buying.

SPEAKER_3 (3:26)

Yeah, how about in corporate news today? Starbucks may be a sign of a turn. Brian Nichols says the fall product launch helped deliver a record breaking sales week across the US company-operated stores, also strong sales in Canada.

Jim Cramer (3:38)

Think about what that will do for the same store. You have China basically on the fence there about whether they're going to sell it or not.

SPEAKER_3 (3:46)

We're seeing reports about the stake sale there.

Jim Cramer (3:49)

Look, they're doing some things that will hurt the gross margins, I think, but help the throughput. Now, throughput is not perfect, as you know from this very morning. There are people who make mistakes. There are two people who make mistakes. But I do point out that when he says that it's record numbers, it means something's working. So sell that stock at your own peril.

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