Every weekday, the CNBC Investing Club with Jim Cramer hosts a livestream of the “Morning Meeting” at 10:20 a.m. ET. Here is a recap of Tuesday’s key moments. The Nasdaq shot above 17,000 for the primary time on Tuesday – driven by further gains within the club’s name Nvidia stock. In response, Jim Cramer said: “Nvidia is capturing a lot attention that individuals might sell [the broader market] to construct a bigger position in Nvidia.” Shares of the AI chip giant rose 5% — extending last week’s rally that was boosted by another fantastic quarter, forecasts and forward-looking commentary. The Dow Jones Industrial Average and S&P 500 were both under some pressure — reflecting the divergence we saw last week. Apple shares rose nearly 1% on Tuesday on signs of increased demand for the iPhone in the world’s second-largest economy. iPhone shipments in China rose 52% in April, a sharp rebound from March thanks to price cuts for the flagship device, new data from the China Academy of Information and Communications Technology shows. But Jim said investors shouldn’t take the report at face value. “I’m not buying it,” he said. “I feel the direction is true, but that is just way too big.” He said iPhone shipment numbers are volatile and often inaccurate. UBS also noted that April tends to be seasonally weak and the big monthly increase represents only a gain of about 1 million units. Citi upgraded DuPont to buy from hold and raised its price target on the club’s stock to $95 per share from $85. The analysts said DuPont’s recently announced plan to split into three publicly traded companies should lead to further upside in the stock. BMO Capital and Wells Fargo Securities also upgraded the stock last week. The club shares a similar view to Wall Street firms, saying a split would be a win for shareholders. “That’s [CEO] “Ed Breen’s ultimate plan to take the stock to $100,” Jim said Tuesday, when shares were trading at about $82. On that optimism, we bought more DuPont shares — and individually initiated a position in global manufacturing company Dover. (Jim Cramer’s Charitable Trust is long AAPL, DD, DOV, NVDA. A full list of stocks may be found here.) As a subscriber to CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after a trade alert is distributed before buying or selling a stock in his Charitable Trust’s portfolio. If Jim has discussed a stock on television, he waits 72 hours after the trade alert is issued before executing the trade. THE INVESTING CLUB INFORMATION LISTED ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
