Why Cramer isn’t worried about Apple’s quarter — plus, the chip stock bounce

The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

Skip NavigationJoin ICJoin ProLivestreamMenuEvery weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Chip stocks are bouncing Tuesday, breathing life back into the Nasdaq after a bruising three-session losing streak. Club stock Nvidia is up more than 2.5%. A higher close would halt four consecutive down days. However, Jim Cramer said it’s going to be a long day as traders and investors might want to lock in some cash ahead of the polls closing in the midterm elections. Our Club’s annual meeting is Friday at the New York Stock Exchange. The livestream for members starts at 10:30 a.m. ET. 2. Apple is off its lows of the session. Jim said there may have been some brave souls who bought the stock when it was down over 4% after an earnings report that was not perfect . He questions whether traders might later take their gains and run. We are still “own it, don’t trade it” on Apple. Jim says the iPhone Duo will be a big deal for Apple when supply catches up with the crazy demand. Any worries about the sequential deceleration in services revenue should be eased by the many users the Duo will bring into the ecosystem, he added. 3. Two of our industrial stocks are up big after earnings. DuPont , which has little to do with the data center trade, is up 6.5% on Tuesday. Jim said that everything looks great except the parabolic move in the stock; rapid gains can reverse quickly, so he has long advised taking some profits. That’s why we trimmed some Monday and Tuesday. Eaton , which is a play on the data center, is up nearly 8%. Jim wants to hear what the company says on its post-earnings conference call, which begins at 11 a.m. ET. Check your texts and inboxes later for our full earnings commentaries on both DuPont and Eaton. 4. Stocks covered in Tuesday’s rapid fire at the end of the video are Palantir , Shopify , and Yum Brands . (Jim Cramer’s Charitable Trust is long AAPL, DD, ETN. See here for a full list of the stocks.) 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. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.Read More

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