Club meeting recap: Cramer is ‘very excited’ about Apple’s growth opportunity in India

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 Thursday’s key moments. Stocks rise Watch Apple Wynn’s rally 1. Stocks rise Stocks climbed Thursday after U.S. wholesale inflation in March came in cooler than expected . The monthly producer price index — a measure of supplier prices — fell 0.5% month-over-month, the Labor Department said. The report comes a day after the agency released its monthly consumer price index, which also showed easing inflation in March. The latest data suggests “we are having a slowdown,” Jim Cramer said Thursday — a central aim of the Federal Reserve’s interest rate hikes over the past year. Technology stocks led the way up Thursday, with investors betting the fresh economic figures could prompt the Fed to be less aggressive on interest rate rises going forward. The tech-heavy Nasdaq Composite rose roughly 1.4%, while the S & P 500 was up 0.7%. 2. Watch Apple A slew of favorable Apple (AAPL) headlines helped lift the iPhone maker’s stock Thursday, including two price target increases and fresh evidence that the company’s investments in India are bearing fruit. Credit Suisse on Thursday boosted its price target on Apple to $188 per share, from $184, while Canaccord Genuity hiked its price target to $180 per share, from $170, with both firms citing strong iPhone demand. Meanwhile, Bloomberg on Thursday reported Apple’s iPhone production in India tripled in 2022 , totaling more than $7 billion. Making more iPhones in India should help Apple in its quest to gain share in a key smartphone market, Jim explained, saying he was “very excited” about the opportunity. Shares of Apple were trading up more than 2% Thursday morning, at $163.50 apiece. 3. Wynn’s rally Shares of Wynn Resorts (WYNN) should have more upside ahead, as the casino operator’s business in the Chinese gaming hub of Macao continues to recover since Beijing abandoned its strict zero-Covid policy late last year. But with the stock up nearly 70% since the end of September, the Club is thinking critically about when it would be sensible to book profits. That’s because it’s hard to truly know how much of the good news around Wynn’s business recovery is already priced into the stock, Jim explained. But, he added, “I think the stock has further to run.” Shares of Wynn were trading up 3.7% in late morning trading, at roughly $110 apiece. (Jim Cramer’s Charitable Trust is long AAPL and WYNN. 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.