My top 10 things to watch Tuesday, June 30 1. Stock futures are flat on the final trading day of June, the second quarter, and the first half of the year. The S & P 500 and Nasdaq are on pace for their best quarters since Q2 of 2020, when the pandemic market recovery ignited. The S & P is up nearly 14%. The tech-heavy Nasdaq has ripped almost 20%. 2. Comcast was upgraded to buy from hold at Deutsche Bank, saying its planned spin-off of NBCUniversal will unlock value. I agree. You can’t see the progress of the media business and theme parks under Comcast. Shares rose 4.5% yesterday on the spin-off news. They’re up another 2.5% early this morning. 3. Big price target bumps for Applied Materials ($900 from $575) and Lam Research ($475 from $385) at Susquehanna. These have been some of the best stocks in the S & P 500 this month. We’re in a compute shortage, and you can’t increase chip manufacturing capacity without these semiconductor equipment companies. 4. Wells Fargo hiked its price target on Advanced Micro Devices to $615 from $505. Nearly tripling in the past three months, the stock closed yesterday around $539. AMD is still in the catbird seat with a strong legacy CPU business benefiting from the growth of agentic AI, while emerging as the No. 2 GPU supplier behind Club name Nvidia . 5. Morgan Stanley is more bullish on Google Cloud’s multiyear growth outlook, thanks to both its traditional business renting compute access and its new initiative to sell its custom chips to external customers. Analysts took their PT on Alphabet to $415 from $375, implying about 20% upside. In a piece for Club members this weekend, we explored the momentum behind Google’s in-house chip business. 6. Piper Sandler started Club name Capital One at a buy. Analysts are “selectively constructive” on the payments and consumer finance sector ahead of earnings next month. They also recognize potential problems, like a softer jobs market. Valuations have compressed across the group. BTIG raised its price target to $259 from $224, implying roughly 28% upside. We need to see more progress on Capital One’s Discover integration. 7. Bank of America downgraded keyboard and mouse maker Logitech to sell from hold, citing weakening demand as soaring memory costs lead to price hikes across PCs, smartphones and gaming systems. The stock is down over 5%. Club name Apple got slammed last week after the company implemented its higher-than-expected price increases to the Mac and iPad. That was Apple’s first move to offset memory. Could the iPhone be next this fall? 8. AeroVironment is soaring this morning, up over 30%, after a big top- and bottom-line beat. The defense company’s drone segment drove the better numbers, with revenue of $492 million versus $402 million expected. However, AeroVironment’s unit involved in satellites and missile warning systems was weaker. This stock is a battleground between shorts and longs. 9. The airlines landed price target bumps at Wells Fargo. They went to $105 from $75 on Delta and $165 from $130 on United . These carriers remain their favorite stocks in the space. Wells went to $17 from $12 on American and $50 from $44 on Southwest . The steep drop in fuel prices as crude transport traffic returns to the Strait of Hormuz is a huge win for the group. 10. A lot of chatter around industrials. Deutsche Bank placed a short-term sell call on Otis Worldwide , saying it does not think the escalator manufacturer’s full-year guidance is achievable. They were more upbeat on Parker-Hannifin and gave it a “catalyst call” buy designation ahead of earnings. Analysts also forecasted that Club names Eaton and GE Vernova will beat on earnings. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at 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. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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