CNBC Investing Club: Cramer’s Morning Take on Goldman Sachs 10/12/26

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0:33Schwab Market Update, an original podcast from Charles Schwab, provides an information-packed daily market preview on stock updates, U.S. and global economic news, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at schwab.com slash marketupdatepodcast, or find Schwab Market Update wherever you get your podcasts. Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 1020 a.m.

1:12Visit CNBC dot com slash morning take to sign up today. That's one word. Morning take. We'll also have Wells Fargo and Goldman Sachs kick off bank earnings. I want to point out that Wells Fargo and Goldman, these are not companies that just do IPOs and they just do M &A. And I would tell you that Goldman Sachs down here, I think, represents some value. I know it's had a very big move, but for the year or so, it's only up 1.7%. And the amount of volatility in the market is so great and the amount of bondage was so great that I actually would recommend that you buy some right here if you don't own any Goldman.

1:55And there was a Wells upgrade last week at Morgan Stanley, just talking about NIMS stabilization, also the valuation, not fully pricing in an improvement on return on tangible common equity. So some things to look at there. Jim, earlier you talked about software doing better than the semis. There was a double upgrade of Salesforce at Bank of America, raising the price target to$285 from$160. They were previously worried about AI disremediating Salesforce. I mean, I don't know why people having integrated Salesforce twice, I would tell you that it's a very complex system that they're bringing in.

2:34It's not just, hey, you know what, something that's vibe coded. But it doesn't matter. People were deciding because of that relation, you know, the guy's situation. He hated it. Shorting software. Remember, he shorted it. It was something that I learned at Goldman. When you get loud and long, okay, well, this is unfortunate. You get loud and long, and what would happen is you'd also get loud and short. That this man, I think, was very involved with telling people that Salesforce was falling apart. Salesforce was not falling apart, and it was the wrong call. They were buying back stock throughout that time, too.

3:13Right, and they bought a huge amount of stock back at$175. And look, these are not, these institutions don't stand still. And Adobe didn't have management. So there, that's a little different thing. But I think ServiceNow is screaming by here. Do I think that Intel, Micron or Bosch, again, I need to see those stocks bottom because the selling is so aggressive that I know that there are people who just say, I got to get out no matter what. And I just don't think that's right. But I'm not going to catch their falling night. All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, internet, or another medium.

3:58No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment, or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com forward slash investing club disclaimer.

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