Here’s a rapid-fire update on all 33 portfolio stocks including our tech giants reporting this week

Published Wed, Apr 24 20243:53 PM EDT

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Jim ran through the portfolio during our April Monthly Meeting on Wednesday. Apple : Jim reiterated his "own it, don't trade it" stance on Apple despite its lackluster 2024 performance. Slowing iPhone sales in China remains an overhang, but Jim emphasized that expected artificial intelligence-related device will serve as a tailwind for shares. Integrating the buzzy tech into the iPhone will lead to the next upgrade cycle, not only boosting hardware sales, but also Apple's services revenue stream. Jim said once these AI features are rolled out, it's unlikely that the stock will get back down to its current levels – around $168 apiece on Wednesday. That's why we're waiting out the downtrend. Abbott Laboratories : Abbott's legal overhang is different than the one that weighed on former Club holding Johnson & Johnson , and that's why we have used the stock's recent weakness to add to our position. Jim said Wednesday he still believes shares of Abbott are worth buying here. The business fundamentals, as its first-quarter results a week ago showed , is doing well. Amazon : When the e-commerce and cloud behemoth reports next week, we expect CEO Andy Jassy to tell a strong story about Amazon Web Services, its fast-growing ad business and the value of its Prime membership. Additional color on its AI strategy will be welcome, too. Jim said Amazon's business model is perfectly suited for the current economic moment, in which customers look for bargains on everything except travel. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. However, the company continues to suffer from weakness in legacy areas such as cellphones. We also want to start seeing the benefits of Broadcom's blockbuster VMWare acquisition, which closed late last year. Best Buy : We've added to the electronics retailer three times since our initial purchase on March 27, the day of the March Monthly Meeting. The stock has drifted lower, alongside the broader market, which we greeted with open arms to build up our stake. Jim said the current market perception of Best Buy reminds him of when GE Healthcare was so unloved last year. Eventually, GE Healthcare's fortunes turned around and the stock moved higher. We expect that will happen with Best Buy once investors realize the benefits an AI-driven upgrade cycle will have for the company. Bausch Health : The troubled Canadian pharmaceutical company won a key patent protection lawsuit for its Xifaxan drug, yet the stock went down after the decision. It appears that other investors, like us, were looking to dump shares into the ruling. Bausch must be sold, Jim said, but he expects there will be a better time to do so. Costco Wholesale : Costco is one of our most-expensive stocks based on its price-to-earnings multiple, and that could explain why shares peaked March 7 and have drifted lower since then. That is right around the time bond yields began marching higher, which, as Jim explained in his Sunday column , has proven to be a turning point for the market and high-multiple stocks, in particular. There's nothing wrong with Costco's fundamental business. Salesforce : The enterprise software maker has become a complicated position in light of recent reports in The Wall Street Journal. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. About a week later, The Journal said the conversations had fizzled . While we're glad Salesforce didn't go forward on the Informatica deal, the fact the discussions were had at all raised our eyebrows. Jim said he does not want to sell Salesforce, but the stock is in the penalty box for now. Coterra Energy : We added to our position in the oil-and-gas producer earlier this month as a geopolitical hedge, given the tensions in the Middle East have put a risk premium on crude that will likely remain. CEO Tom Jorden has wisely pivoted Coterra's production toward oil, de-emphasizing natural gas due to depressed prices. That shift should help the company deliver excellent first-quarter results when it reports May 2. DuPont De Nemours : Jim said he won't consider adding to this materials position until shares slide below $70 apiece, a roughly 5% decline from Tuesday's close. We've been battling this stock for some time. The Club made a sale of the DuPont on April 10, exercising discipline after the stock's roughly 14% advance since our last Feb. 14 purchase . We trimmed because it's hard to imagine DuPont's business has gotten so good so fast, especially given how lackluster the company's first-quarter earnings report was earlier this year. Danaher : It's not too late to own Danaher, Jim said, even though the life sciences company on Tuesday delivered the long-awaited bounceback quarter that sent its stock up 7% in the session. The biotech recovery has finally turned the corner, and more orders for Danaher's equipment, which is used in the drug discovery process, should be on the horizon. That's particularly true as more biotech initial public offerings arrive, giving key Danaher customers a cash injection. Walt Disney : Shares of Disney have pulled back since the start of its annual meeting April 3, during which it was announced that Nelson Peltz's fight for board seats came up short. We sold some right before the annual meeting and then again after it once our restrictions lifted . We're glad we did. Jim said he likes many stocks better than Disney right now, but is holding out hope that in 2025 the fruits of CEO Bob Iger's turnaround efforts will be more apparent and a successor to the two-time CEO will be named. Estee Lauder : The cosmetics firm has been a major disappointment, but we've come around to the idea that its inventory debacle in China is nearing its end. If that's the case, there should be plenty of upside ahead for the stock. We made a small buy earlier this month and upgraded our rating to a 1. We acknowledge there's still risks to the recovery, given how mighty Estee Lauder's challenges proved to be. Eaton : Don't sell this high-quality stock just because of its early 2024 gains, fueled by AI investments boosting its data center business, Jim said. While shares have pulled back from record highs earlier in April, they remain up 31% year to date. However, Eaton could have limited upside in the near term because of its high multiple. Plus, Jim said as more people recognize the industrial company as an AI winner, the stock could become more levered to interest rate dynamics rather than its fundamentals. Ford Motor : If General Motors' earnings Tuesday morning were any indication, Ford's results after the bell Wednesday should be good. However, the reason that GM shares have separated from Ford over the past few months is that GM has a monster stock buyback program and Ford does not. Jim reiterated his belief that Ford needs to take a page out of GM's page in order to close the gap. Foot Locker : The turnaround story is taking much, much longer than expected. We're hardly in a hurry to add to our position in the sneaker retailer, unlike our recent decision to make a small buy in another beleaguered company in Estee Lauder. Jim acknowledged he's considered whether we should just dump Foot Locker on its next move higher to clear space for a new stock. Foot Locker is our smallest position. GE Healthcare : The medical equipment maker has been smart in its embrace of AI to improve its machines. While the strong U.S. dollar is a bigger headwind for GE Healthcare than European rivals Philips and Siemens, Jim said he believes there's enough demand for their products to go around. We may look to buy more stock on future weakness because its future is still bright. Alphabet : The once-hated Google parent has returned to Wall Street's good graces. Its slate of product announcements at Google Cloud Next earlier this month offered reasons to believe its closing the gap in the AI race . At the same time, Jim said he'd like to see Google Cloud reach $10 billion in quarterly revenue, more granularity from management on what's driving YouTube's success and, notably, a dividend. The tech giant reports Thursday evening. Honeywell International : We're facing a quandary with this stock, which has underperformed its industrial peers. Jim argued that many other blue-chip industrial companies have found their niche, but Honeywell has yet to find its focus due to its wide-ranging businesses. We hope the conglomerate's management will restructure its sprawling portfolio and focus on higher-growth areas. Jim said CEO Vimal Kapur needs to deliver when the company reports quarterly results on Thursday. Linde : This Club holding continues to deliver for investors regardless of economic conditions. Linde has immense pricing power because of its dominance in the industrial gas market. Plus, we don't expect demand to let up anytime soon for its offerings, which includes exposure to carbon capture projects. Eli Lilly : It's hard to find a reason for Eli Lilly shares drifting lower since early March other than its high price-to-earnings multiple — a victim of the bond market, similar to Costco. Some of Wall Street's excitement around the GLP-1 craze seems to have faded, but the patient demand for Eli Lilly's obesity and weight-loss drugs seemingly has not. From an investment standpoint, any situation where a company has more demand than supply is fine with us. Meta Platforms : A TikTok ban in the U.S. would be the ultimate tailwind for the Facebook and Instagram owner. While its short-form video feature Reels has gained traction on its own and become a positive contributor to revenue, additional ad dollars would flow its way if TikTok is forced to cease operations in the U.S. due to a law signed Wednesday by President Joe Biden. Even without it, though, there's a lot to like with Meta. However, with earnings after the bell, there's no reason to buy it now, especially after its 40% year-to-date gains. Morgan Stanley : The portfolio name is among the cheapest stocks in the S & P 500 , with a price-to-earnings ratio of roughly 14. The stock has found some momentum lately, which some are attributing to the higher-for-longer interest rate environment. But Jim said he sees company-specific reasons why the stock should work, particularly Morgan Stanley's push into fee-based businesses. Jim said CEO Ted Pick has brought good tidings to the Wall Street giant after its recent quarterly print, which was highlighted by a big rebound in crucial segments like wealth management and investment banking. Microsoft : There's near-universal love for Microsoft, which could make it vulnerable to profit-taking after Thursday's earnings report absent reassuring AI commentary and AI-fueled growth for cloud unit Azure. Nevertheless, we see no reasons why Microsoft cannot keep hitting it out of the park. Nvidia : Investors are trying to gauge the threat poised by rival AI chips from other semiconductor firms, such as AMD, and the in-house silicon from tech titans such as Amazon, Microsoft and Alphabet. What the market is missing, according to Jim: Those chips simply do not measure up to what Nvidia has. CEO Jensen Huang recently gave a talk at his alma mater, Oregon State University, that highlighted his grand vision. It's worth a watch here . Palo Alto Networks : Jim had been concerned about the cybersecurity stock in the wake of its February earnings disaster, but he said the worry has subsided at current prices. Jim welcomed news that Palo Alto's offerings were tapped following the February hack on one of the country's largest health-care companies, UnitedHealth Group . To be sure, competition in the cybersecurity landscape is stiffening with peers like cloud-native CrowdStrike grabbing share. We have faith Palo Alto CEO Nikesh Arora will help keep the firm on track, though. Procter & Gamble : The consumer products maker reported a terrific quarter Friday, which the market initially misjudged before coming to its senses later in the session. It's followed that up with three more positive days, bringing its win streak to eight. We like that its business in China is starting to turn and gross margins topped expectations in the quarter, as well. The Dividend Aristocrat remains a rock-solid stock to keep in the portfolio. Starbucks : The coffee chain's earnings report next week may be one of the most expected downside "surprises" in recent history. We haven't bought any stock down here, in large part, because we need to see estimates come down to a level where Starbucks can beat them. The reason we hold onto the stock at all is because it's hard to believe CEO Laxman Narasimhan, who took over the top job 13 months ago, is as bad of a manager as the stock performance suggests. Its challenges can be overcome. Constellation Brands : Shares of Constellation have given back all of their post-earnings gains April 11 and then some, despite the strong results . One explanation for the weakness: The founding Sands family could be selling some of its large stake, putting pressure on the stock including in Wednesday's session. In any case, its beer business, anchored by Modelo and Corona, is on fire. We eventually expect the company to sell at least part of its wine-and-spirits business, which is facing more headwinds. Jim said Constellation is a buy at current levels. Stanley Black & Decker : The stock has struggled this year, but its bountiful dividend yield around 3.6% offers some protection. Management is wading through murky waters as its professional tool business has been stronger than the do-it-yourself customers. High mortgage rates is evidently not sparking the average consumer to take up more repair and remodeling projects. Still, Jim urged members not to sell at these levels. TJX Companies : High-quality merchandise from other retailers should continue to make its way to the parent company of TJ Maxx, Marshalls and Home Goods. That makes its underperformance versus the S & P 500 in recent weeks all the more confounding. If anything, its forward earnings multiple of roughly 22 seems to be keeping a lid on the stock. Still, Jim said he believes TJX is about as good a bargain that investors will find in the discount retail space. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. The financial name has swelled to our largest position following a solid quarterly earnings release on April 12, which contained a sequential increase in stock buybacks and a pledge from management to repurchase more this year than in 2023. Jim also touted Wells Fargo for growth of its fee-based income streams, similar to Morgan Stanley. These durable revenues make the Wall Street firm less reliant on interest rate dynamics, which management has no control over. Wynn Resorts : The casino operator is mispriced, even after a nearly 8% gain this year. Jim emphasized his belief that its business in the Chinese gaming hub of Macao still has more upside considering the world's second-largest economy has yet to truly find its post-Covid stride. He said he'd like a bigger position in the stock and would look to buy more around $95 a share. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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. 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A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City.

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