Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Stocks declined Tuesday after Palantir’s quarterly results and subsequent stock drop stoked valuation concerns about AI-related names. The S & P 500 was down nearly 1%, while the Nasdaq lost nearly 1.5%. The market move lower is nothing to be concerned about, Jim Cramer said. “So, what’s really happened? The answer is nothing.” Instead, he added, “There is just a concentrated group of people who believe that right now the market is overvalued.” 2. If investors want exposure to inexpensive names, just take a look at the financials sector. ” Goldman Sachs is a very inexpensive stock,” Jim said. It is trading at 15 times earnings, “and it’s killing it.” Goldman’s crucial investment banking division should see more upside on an influx of Wall Street dealmaking. Not only have initial public offerings and mergers and acquisitions picked up, but there is also a need for more financing of AI infrastructure projects. “That’s a windfall for the big banks,” added Jeff Marks, director of portfolio analysis for the Club. 3. Broadcom was named a top pick at Jefferies, where analysts also raised their price targets for both the custom chip maker and Nvidia following the latest stream of cloud announcements. For Broadcom, analysts see “larger upside to estimates as ASICs hit an inflection point,” noting ramped up volumes from Alphabet -owned Google and Meta Platforms . ASIC stands for application-specific integrated circuit, another name for customer chips. On Nvidia, Jefferies was encouraged by the Amazon -OpenAI $38 billion compute deal, which involves Nvidia chips. The Club continues to believe that Nvidia and Broadcom are great stocks to own to ride the AI wave. 4 . Stocks covered in Tuesday’s rapid fire at the end of the video were: Uber , Pfizer , Yum Brands , Stanley Black & Decker, and Shopify . (See here for a full list of the stocks in 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.
