CNBC Investing Club: Cramer’s Morning Take on Micron 9/30/26

0:00I'm Mike McNerney, Equity Investment Strategist. Markets move fast. My mission is to provide market insights to our clients that help turn uncertainty into opportunity. Janice Henderson, investing in a brighter future, together.

0:17Oh, look. You just got added to a meeting about coordinating another meeting to prepare for the pre-meeting ahead of the follow-up meeting, which will, of course, require a recap meeting. And then another meeting. Hit your booking point. Book with Southwest and enter airplane mode.

0:47Jim Kramer 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. Visit cnbc.com slash morning take to sign up today. That's one word, morning take. We are buying some things that I think have been oversold. I'm not saying you got to go buy everything. I'm not saying that yet. Yeah, it's an interesting stat that you point out because the S &P is, you know, barely down from its all-time high. But as you cited, the average stock not doing well. And that's because, well, the S &P is market cap weighted.

1:28And a lot of the big market caps have been doing well. Right. Microsoft, the best run it's had. You know, we love these stocks. Never abandon them. Yeah, NVIDIA, another one, you know, that is pretty near its high, although it's just kind of been flattish lately. It's got to take out the high. Look, I'm going to be really honest. Unless it takes out this level, then people are going to say that the buyback's phony. People are going to say that perhaps the stock's not as strong. I will tell you again, it has to take out that level in order to bring in a whole new group of people. I think the stock's selling it 16 times next year, sir.

2:02Well, they got the buyback now, an upsized buyback, so that should help. And then also micron earnings tonight where we are expecting strong results. I think everyone's expecting strong results. I think that's pretty consensus. Will we offer a view that until 2031, now it's 2031 because it's been 2030. 2031 he sold out. So durability is really the key here. How long will this cycle last where demand continues to exceed supply? Some strategic customer agreements, those also help add visibility because they're long-term contracts. Also provides a floor as well to gross margins. Maybe a cap as well to price.

2:43But I also need to hear that the January 1 date to be able to ship from the factory that I was at is ongoing. And I need to know about how the New York Foundation is the biggest project in America. Let's do it. Yeah, really important. Now, I want to be careful with Boeing. People say, well, hold it, wait. Boeing just won a big order against Northrop. Yeah. Huge deal. $20 billion contract? I've been waiting for that. Didn't think they would get it. The problem is threefold. One is that there is a vote, a union vote for the engineers. We'll know that tomorrow. We might see a strike there. And then the second thing is we need to know whether the FAA is happy or not with the software fix.

3:20They can still make things very tough on Boeing where numbers would be cut. That's why it's not moving. Yes. Well, yeah. And I think that the software fix and the FAA, I think that's going to take some time. I know. And that's not good. That will take time for that specific aircraft model. Or otherwise, one of the stocks I would have bought this morning, I would have said, let's pull the trigger on Boeing. I can't do that until we see the information. 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 Kramer on television, radio, internet, or another medium.

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