Cramer's First Hour -- October 30, 2024

Locator: 48678ECONOMY.

Cramer's first hour: a mix of facts, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.  

Super Micro Computer: oh-oh

• Ernst and Young resigns as Super Micro's accounting firm
• shares down 31% at open
• accounting issues
• Cramer thinks it will get worse
  

Economic numbers released this morning: "we're in a sweet spot."

• GDP, 3Q24, first read: 2.8% vs 3.15 forecast
• PCE price index ex-food, energy: 1.6%
• PCE price index: +1.5%
• core PCE: +2.2%
• blah, blah, blah
• there's people complaining about these numbers, really? 
• the Fed's favorite measure of inflation: core PCE which exludes 
• the difference between PCE and PCE price index: PCE is a measure of consumer spending, while PCEPI is a method used to measure inflation
• so, the Fed's favorite metric is slightly above 2, at 2.2%; and,
• the measure of inflation is 1.5%. Okay.

From an investor's point of view: time to stay the course; stick to your plan.  

Google AI: I'm really pleased with Google search. No one else now comes close. 

Apple's M4 and M4 Pro Mac Mini: link here.

• 5 x 5 inches; less than half the size of the previous design
• compared to best-selling PC desktop in that price range, Mac mini is up to 6x faster and one-twentieth the size
• a 10-core CPU, a 10-core GPU,
• but for pro-level, significantly more
• 2x faster than the M1 MacMini
• front and back ports
• for the first time, includes Thunderbolt 5 for faster data transfer speeds
• Thunderbolt: high-speed interface that uses USB-C connectors
• can support multiple protocols; can connect multiple devices, can connect multiple 4K monitors
• for $599:
• 16GB of memory

Lilly: drops 10%, pre-market

• Cramer is livid; says it's a story of miscommunication; CEO didn't handle the conversation, the story well;
  
• suggests that Lilly didn't trust (demand) numbers; thought they were too much, so:
  
• under-produced; unable to meet demand and some consumers had to go elsewhere

GOOG: Cramer was absolutely impressed with the numbers

• amount of money they are making is insane; no wonder it has government's attention
• despite its numbers, GOOG had worse (stock)performance of the Mag-7
• CAPEX: $13 billion / quarter and they need to spend more
  

Reddut: soars to record high.

• RDDT: up 24% in past month
• shares up 30% pre-market
  

CAT: dragging down the Dow.

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Disclaimer
Brief Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  
• If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia.
• Longer version here.