Jim Cramer Says Microchip Is Near A Bottom — 'I Don't See It Yet' — While Nebius Is 'Not Done Going Down'
Complete. Here is the key summaryJim Cramer advised waiting for better entry points on several stocks, including Microchip Technology (MCHP), Vertiv (VRT), and Nebius (NBIS), citing ongoing downward trends and speculative volatility. He recommended avoiding Applied Optoelectronics (AAOI) until the speculative wave passes. While praising Quanta Services (PWR) over Wesco (WCC) and Coca-Cola Consolidated (COKE) less than KO, he remained unsure about ExlService (EXLS). Recent price action showed declines for MCHP, VRT, AAOI, PWR, and NBIS, while COKE and EXLS gained.
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Microchip Technology Incorporated (NASDAQ:MCHP) is a semiconductor stock while all the semiconductors are moving down. “I suggest that you wait a few more days until we get rid of all the margin players, and you’re going to find a bottom. I don’t see it yet,” he added.
On July 13, TD Cowen analyst Joshua Buchalter maintained Microchip Technology at Hold and lowered the price target from $105 to $90.
Cramer said Vertiv Holdings Co (NASDAQ:VRT) is in “speculative hands” right now and recommended waiting. “You’ll get a better price if you want to buy. We’re not far from it, but we’re going to get a better price,” he added.
When asked about Applied Optoelectronics (NASDAQ:AAOI), he said, “Not now. We need to wait until the speculative wave has passed.”
Applied Optoelectronics said it will report its second-quarter financial results on Thursday, Aug. 6.
Cramer said Quanta Services, Inc. (NYSE:PWR) has come down a lot, and it’s a better company than Wesco International (NYSE:WCC).
Nebius Group N.V. (NASDAQ:NBIS) is at the “nexus of the craziness right now. It’s not a crazy company; it’s very good company,” Cramer said, “This stock is not done going down. There’ll be another time to buy it, but that time is not now.”
Cramer said Coca-Cola Consolidated, Inc. (NASDAQ:COKE) is good, but The Coca-Cola Company (NYSE:KO) is a better stock.
According to recent news, Coca-Cola Consolidated declared a dividend of 25 cents per share on July 10 for the third quarter.
Cramer said he doesn’t know about ExlService Holdings, Inc. (NASDAQ:EXLS).
On July 9, TD Cowen analyst Bryan Bergin maintained ExlService at Buy and lowered the price target from $45 to $39.
Price Action:
- Microchip Technology shares dipped 5.3% to settle at $81.68 on Thursday.
- Vertiv shares dipped 3.4% to close at $294.11 during the session.
- Applied Optoelectronics shares dipped 8.1% to settle at $100.24 on Thursday.
- Quanta shares declined 2.8% to close at $631.02.
- Coca-Cola Consolidated shares gained 3.1% to settle at $182.45 on Thursday.
- Nebius shares dipped 13.9% to close at $171.77 during the session.
- Exlservice shares gained 4% to settle at $28.69 on Thursday.
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