Jim Cramer says the AI trade is not going away as Nasdaq enters correction
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stocks plunged Thursday, with the Nasdaq Composite falling 4.2% and entering correction territory.
- Concerns over financing and political scrutiny are slowing the AI data center buildout, impacting tech and semiconductor stocks.
- Jim Cramer's Investing Club reduced AI exposure by exiting Broadcom, Corning, and Arm, but maintains positions in Micron and Qnity.
- Cardinal Health's stock surged on strong quarterly results and an improved full-year outlook.
- Kimberly-Clark also reported better-than-expected results and reaffirmed its full-year guidance.