The CNBC Investing Club on Wednesday convened for its June Monthly Meeting, during which Jim Cramer and Jeff Marks, director of portfolio analysis, dished out their latest thinking on all 35 portfolio stocks. Jim also named his favorite stock in the bunch (Intel) and explained what makes it such a compelling investment opportunity. Here’s a recap of what they had to say. Tech & data center Jim began the portfolio breakdown by saying he believes a re-ordering of the “Magnificent Seven” is upon us. The old guard is Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia, and Tesla . The newcomers? SpaceX and the not-yet-public Anthropic and OpenAI. It’s high stakes, with SpaceX representing an especially formidable competitor. Alphabet : This is a winner in the AI era thanks to YouTube, robotaxi service Waymo, and both the traditional Google Search business and its Gemini chatbot. Like SpaceX, Alphabet has already raised the money it needs. Apple : This company has the best consumer tech in the world with the iPhone, hence why it has over 2.5 billion users. Apple’s installed base allows it to take tribute from Alphabet because of its advantageous AI partnership with Gemini. AI will also make Siri much better , too. Nvidia : Shares of the world’s largest company by market cap seem stuck in molasses, but Nvidia is collecting billions of dollars from all the hyperscalers for its graphics processing units (GPUs). The company needs to start repurchasing stock by the barrelful. Still an “own it, don’t trade it” stock. It’s simply too cheap to give up on. Amazon : No denying that cloud unit Amazon Web Services (AWS) and its e-commerce business are juggernauts, and its custom silicon (Graviton and Trainium) is good too. But does it have to do an equity offering like Alphabet to fund its AI buildout, or is it already making enough money with its AI and we don’t know it yet? Open question. Selling stock, while dilutive, could increase its competitiveness. There are enough reasons to stick with Amazon, despite the recent pullback. Meta Platforms : One of the toughest nuts to crack. While WhatsApp is incredibly popular, it’s not a major money-maker yet. The ad business is top-notch, but there’s still some economic sensitivity, and it doesn’t have a cloud-computing business to help justify all its AI spending. Will Meta be important a few years from now at this pace? Not clear. Maybe not at all. We’re restricted from trading the stock, but if we get a couple of up days in a row, we might look to book some profits. Microsoft : Another Mag 7 quandary. We all know this has been a loser of late. As good as the cloud unit Azure may be, it still gets a lot of its revenue from the kind of enterprise software at risk of being disrupted by AI. Plus, its own AI tools, like Copilot, aren’t as strong as what OpenAI and Anthropic have. A tie-up with OpenAI would be good, but is it even feasible? Our approach to this one may be similar to Meta. Salesforce : There are better places to invest right now than the enterprise software cohort, which is why we’re still not interested in buying any more Salesforce despite an extended losing streak. Intel : The current favorite, with even more upside potential than Nvidia. The reasons to buy it include the growth of central processing units (CPUs) inside the data centers. The CPU-to-GPU ratio is trending toward parity, per Intel CEO Lip-Bu Tan, and its third-party manufacturing business could take off in the coming years as companies look for TSMC alternatives. We bought more Intel on Tuesday and want to build a larger position. The rigor says it’s run a bunch already, but the passion says this is the big one. Arm Holdings : In second place is Arm, a company with tons of intellectual property for power-efficient semiconductors. It’s historically licensed that IP to others, including Apple and Nvidia. Now it’s building its own first-party data center CPU. The stock has been a rocket ship since our April initiation. To manage the risk, we’ve adopted a strategy of trimming it down to a 1% weighting as it goes higher. Broadcom : Shares are jumping Wednesday after a forceful defense from a chip analyst we respect, JPMorgan’s Harlan Sur. He pushed back on concerns that Google’s ninth-generation custom chip, which is co-designed with Broadcom, has been delayed or canceled. If you already own the stock, let it ride as it tries to overcome more of its post-earnings decline. Corning : This stock has surged in 2026 as the market embraces names on the physical side of the data center buildout. Corning makes the optical fibers and connectivity solutions used for these facilities. Another reason for upside: The company benefits from data center operators transitioning away from copper. That’s more of a long-term story. Eaton : The order book is thick for Eaton. The stock is a winner of the AI trade as the industrial company supports both the cooling of data centers and provides the equipment to hook them to power lines. CEO Paulo Ruiz has proven to be a fabulous leader in his first year on the job. GE Vernova : Love this stock. New investors can nibble on some as it is currently trading well below record highs. GE Vernova has been the most aggressive builder of heavy-duty turbines, which turn natural gas into electricity. That makes it another winner of the AI boom. Management is scaling production capacity to meet unprecedented demand. GE Vernova has a whopping $200 billion backlog for 2027, way ahead of management’s expectations. Qnity Electronics : Spun off in November , the former DuPont subsidiary sells a range of materials and products used to make and package semiconductors. No wonder it’s almost doubled in 2026 and now carries a bigger market cap (roughly $33 billion) than its former parent (almost $20 billion). If tech-focused Wall Street analysts start covering Qnity instead of chemical analysts, more investors might get interested. CrowdStrike and Palo Alto Networks : Both stocks had massive swoons earlier this year due to concerns that Anthropic and other AI models would replace traditional cybersecurity vendors. In reality, they’re more the cause of breaches, as opposed to the answer to them. Thankfully, the market came to its senses after we bought more CrowdStrike in March. Healthcare Cardinal Health : This one got caught up in a vicious rotation away from healthcare, taking it from about $230 early March to $182.50 in May. We said nothing was wrong and bought into the sell-off. Now it’s rallied almost all the way back, so we trimmed a little last week. We want to stand pat now. Eli Lilly : Lilly has the best growth of any large drugmaker, and its next-generation weight loss shot called retatrutide is getting a lot of buzz for its muscle-preserving effects compared with existing GLP-1s such as Lilly’s Zepbound and Novo Nordisk ‘s Wegovy. Johnson & Johnson : The second-best growth outlook in that pharma cohort belongs to J & J, which has strong drug franchises in immunology and cancer, as well as exciting medical devices opportunities in heart health and robotic surgery. If this recent pullback keeps going, we may have to think about buying more. When high-quality stocks go lower without any change to the earnings outlook, that means they’ve gotten cheaper. Financials, industrials & beyond Capital One : We’re starting to be positive again. Delinquencies have come down. The framework agreement to end the Iran war and the subsequent lower gasoline prices benefit Capital One, a major credit card issuer. The stock is closely tied to the health of the U.S. consumer. It’s also among the least expensive banks in the S & P 500 . We’re letting it run after buying some earlier this week. Still need to see more out of their recent acquisitions (Discover and Brex). Wells Fargo : There’s little reason to be happy with Wells, even if it was one of our biggest gainers since the last meeting. The bank hasn’t gotten its money’s worth from all the new investment banking talent they have invested in. We’ve been selling our position on the way up. When we’re not restricted, we’ll likely let some more go. Goldman Sachs : By far our best performer in the group. Goldman has done great things with initial public offerings (IPOs) in 2026. Just look at its crucial role in taking SpaceX to market last week. That means a huge increase in revenue for its key investment banking division. Goldman’s run isn’t over yet. Boeing : If members don’t own this stock, consider buying it. Boeing is about to take off. It trades on free cash flow, which seems to be improving as monthly deliveries jumped again last month. Deliveries are a key indicator of FCF because it’s when customers actually hand over the money for their orders. Concerns about canceled orders seem misplaced. Honeywell : The industrial conglomerate will split into two companies at the end of the month, separating from its aerospace business. Honeywell Aerospace may trade almost as well as GE Aerospace . Don’t give up on Honeywell Technologies, the company’s leftover automation unit. It will have huge business as liquefied natural gas (LNG) plants that were hit during Iranian attacks are rebuilt. FedEx and FedEx Freight : FedEx (FDX), the logistics and package delivery business, is crushing rival United Parcel Service (UPS) and could have a huge second half of the year. Recently spun off FedEx Freight (FDXF) can be a self-help story as it improves margins and sales as a standalone firm. FDXF offers less-than-truckload (LTL) services, essentially combining multiple smaller shipments onto one full trailer. We want to be bigger in both FDX and FDXF. We acted on that Wednesday with an FDXF buy. Dover : Time to trim. Dover’s recent advance presented an opportunity to fund that FDFX purchase. We were under the impression Dover had more M & A up its sleeve, but that hasn’t really materialized. With so many terrific stocks to buy, that’s just not good enough anymore. DuPont : Similar story with this specialty chemicals maker. DuPont hasn’t made any noteworthy portfolio changes since spinning off Qnity. CEO Lori Koch needs to take action to increase its healthcare and water exposure. We don’t want too many stocks with self-help stories. Linde : This is our best growth cyclical. Linde has plenty of exposure to hot end markets like semiconductor manufacturing, along with healthcare and food and beverage. It’s been a terrific story that delivers regardless of the macro backdrop. Linde is also a big winner of the SpaceX IPO, as it is one of a few companies that provide gases used in rocket launches. Starbucks : People keep expecting big things from Starbucks. We want lots of little things, which is what CEO Brian Niccol has been giving us lately. The turnaround is gradual, but it is happening nonetheless. Costco : While this has been a consistent winner over the years, we need to see more in the membership growth department, or else the stock may be vulnerable to fall due to multiple compression. Home Depot : This is our stock levered to Federal Reserve Chairman Kevin Warsh cutting interest rates and sparking a rebound in the sluggish housing market. It’s really our only stock with that kind of direct linkage. It’s been making a nice move in recent weeks, and an eventual rate cut could send Home Depot to $400 per share, which would be 20% upside to current levels. TJX Companies : The off-price retailer has had a nice rally this month after the stock had given back some of its post-earnings gains when it reported strong numbers on May 20. The woes of traditional department stores are boosting the T.J. Maxx and Marshalls side of the business, while HomeGoods delivered phenomenal 9% same-store sales growth. Nike : Nothing new here, which has been a disappointment no matter how you slice it. Nike’s quarterly earnings report on June 30 is its last chance to show the stock deserves to stick around. Still surprising that all the stock purchases from Nike insiders haven’t meant anything. Procter & Gamble : This is our hedge against a potential slowdown, and we want to keep it in the portfolio, considering there’s still plenty of people calling for Fed rate hikes. While we’re tempted to take the profit, we’re holding on. We did trim a little bit last week out of discipline. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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Here’s our monthly update on all 35 portfolio stocks, including Cramer’s favorite name to buy
