Jim Cramer’s Investing Club meeting Tuesday: J&J, Danaher, AMD

Every 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. Buy JNJ while it’s down Look to buy Danaher Wait to buy AMD 1. Buy JNJ while it’s down Shares of Johnson & Johnson (JNJ) slipped more than 1% Tuesday after the drug maker delivered a beat on fourth-quarter profit but missed on revenue estimates. The stock doesn’t deserve to go down, especially considering that the company’s 2023 earnings outlook came in higher than expected . J & J’s only real weakness for the quarter came in its medical technology segment, which was held back by Covid-19 lockdowns in China. The declines are indicative of a broader trend of investors moving out of health-care names this year, in a reversal from 2022. That’s a shift we don’t support. Instead, we urge investors to buy shares of this high-quality company while it’s out of favor. 2. Look to buy Danaher Danaher (DHR) on Tuesday reported strong fourth-quarter earnings but forecasted a lighter-than-expected guidance, sending the stock down nearly 3% in midmorning trading. The company had preannounced the quarter, so the earnings beat was already baked into the stock. Danaher, whose operations include life sciences, diagnostics and environmental solutions, continues to expect its core revenue to grow by a high-single-digit percentage point this year. We remain bullish on the stock. Investors should buy shares of Danaher if the stock falls further today, by at least 5%. 3. Wait to buy AMD Bernstein on Tuesday downgraded Advanced Micro Devices (AMD) to market perform, or neutral, from outperform, citing concerns over a deteriorating PC market. That comes a day after Barclays upgraded the semiconductor maker to overweight, or buy, from equal weight. Amid the competing calls, we advise investors to wait on buying AMD, as the stock will likely be battered further in the coming months. (Jim Cramer’s Charitable Trust is long AMD, JNJ, DHR. 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.

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