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 Thursday’s key moments. Hold your nose and buy Adding Disney in rough market Quick mentions: AAPL, SBUX, NIKE, QCOM, AMZN 1. Hold your nose and buy Stocks tumbled on Thursday after a report showed that initial jobless claims fell to their lowest level in months last week, erasing the market’s gains from the day before. We believe that investors need to hold their noses and buy something on a day like Thursday, as Jim Cramer said Wednesday night . While there was a rally on Wednesday, it was a temporary one based on hope, and the Federal Reserve has maintained its hawkish stance on inflation that makes clear it won’t stop raising interest rates anytime soon. 2. Adding Disney in rough market In addition, our trusted S & P 500 Short Range Oscillator is still oversold. All of these things point to a market that will stay in the penalty box for some time. In other words, now is an optimal time to buy some downtrodden stocks that are of high-quality, make stuff for a profit, return cash to shareholders and are reasonably valued compared to their peers. That’s why we’re buying more shares of Disney (DIS). We’ve waited a long time for this chance, and believe the company is a better company now than it was when its stock traded higher. In this uncertain market, we’re only looking to buy shares in Club names when prices are at least 5% below where they were at our last purchase. Disney meets that criteria. 3. Quick mentions: AAPL, SBUX, NIKE, QCOM, AMZN Bank of America downgraded Club holding Apple (AAPL) to neutral while Rosenblatt upgraded the stock to buy on Thursday. UBS Evidence Labs also revealed that high-end iPhone wait times are still elevated year over year, which suggests that Apple’s more premium phones are selling well, but its basic models have seen faltering demand. It’s also worth noting that the company has a substantial chunk of its company in China, whose economy has been struggling, meaning consumers there are less likely to buy iPhones. Apple shares fell 4% on Thursday. Jim said that investors who are betting the Chinese economy will make a recovery should buy shares of Club holding Starbucks (SBUX) due to its rapid expansion in the city and improved cold brew machines. “You don’t buy Nike (NKE), you don’t buy Apple, you buy Starbucks,” he said. Qualcomm (QCOM) currently looks to be the most attractive buy out of the Club’s semiconductor holdings, according to Jim. “This stock I have followed all my life, and I’ve never seen it this cheap,” he said. Citigroup reiterated Amazon (AMZN) as a top pick, which reaffirms our own belief that for investors who just joined the Club, this is the big cap stock they should own. (Jim Cramer’s Charitable Trust is long AMZN, AAPL, DIS, SBUX, QCOM. See here for a full list of the stocks.) 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.
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