My top 10 things to watch Wednesday, June 25 1. All-time high watch for Nvidia today. Shares of the AI chip giant closed yesterday at $147.90, less than $2 below its Jan. 6 record close of $149.43. I’ll discuss Nvidia and the rest of the Club’s portfolio at our Monthly Meeting at noon ET. Nvidia’s shareholder meeting is also today. 2. Loop Capital jacked up its price target on Nvidia to $250 a share from $175. That implies a staggering $6 trillion market cap. Analysts said there could be $2 trillion in spending on generative AI compute spending by 2028 and are entering a “golden wave” of AI. 3. Wall Street was on track for a muted open this morning after yesterday’s rally. We’re also on all-time high watch for the S & P 500 , which is less than 1% below its February record close. Oil, which is on a three-day losing streak, rose modestly. 4. FedEx wasn’t really all that disappointing on the business-to-consumer side, but business-to-business remains soft still. It looked like things were going to get better, but “Liberation Day” tariffs sucked the life out of B2B. Barclays lowered its price target by $10 to $320, but still likes its cost-reduction strategy. 5. JPMorgan upgraded Taco Bell parent Yum Brands to an overweight buy rating, citing sustained 4% restaurant unit growth, a more attractive valuation and free cash flow generation. Within restaurants, we own Texas Roadhouse for the Club. 6. Kraft Heinz was upgraded to neutral from sell at Goldman Sachs, with analysts arguing the risk/reward is now more balanced. Goldman said scanner trends are still deteriorating, but that Kraft’s well-known brands have real value. I like that Kraft leadership seems very motivated and are finally doing some commonsense brand extensions. 7. Barclays said the wind should remain at Carnival’s back after the cruise operator’s beat-and-raise quarter in a tough macro. Analysts upped their price target to $33 a share from $30, implying 28% upside. Carnival expressed a confident tone 8. NuScale , a loved speculative play on small nuclear reactors, got downgraded by BTIG after the stock more than doubled since earnings in mid-May. NuScale also got regulatory design approval late last month. Shares dropped nearly 3% this morning. 9. Citigroup is out with a bullish note on Club name Eli Lilly’s oral obesity pill and the role that the company’s direct-to-consumer platform can play in reaching its sales potential. Many people will want to switch from the current injectable GLP-1s. 10. Club name Microsoft picked up price target bumps at Wedbush Securities and Wells Fargo. Wedbush went to $600 a share from $515. Wells, which went up $20 a share to $585, said Microsoft’s AI business could generate $100 billion in revenue by fiscal 2029. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
