Jim Cramer says this is not the moment to chase Apple or Nvidia. He says the message is being missed because traders keep staring at jobs numbers that did nothing. The latest unemployment report came and went without surprises.
To him, that calm matters. It lets the market show where money is really moving, and it is not sitting in last year’s biggest winners.
He said the quiet labor data stripped away noise. With nothing dramatic in employment, investors are watching price action instead. What they see is money spreading out across the market. The rally is wider than before. It is touching areas that were ignored for months, while old leaders struggle to move even with solid businesses behind them.
Money rotates away from Apple and Nvidia
In this setup, Jim said cash is rotating hard into overlooked names. Data storage stocks are near the front of that line. He said companies tied to storage have posted massive gains while former leaders stall. Apple and Nvidia sit in that second group. Their stocks have not lifted, even though their operations remain strong.
Jim rejected the idea that either stock is finished. He said both companies are still running well. The problem is positioning. Investors are selling winners from earlier cycles and using that money to buy new stories. Apple and Nvidia have become funding sources rather than momentum trades.
Jim also pointed to what is ahead. Next week brings the JPMorgan Healthcare Conference. He said he plans to speak with about a dozen drug company executives during the event. He said the conference has a long record of sparking deals. He expects merger and acquisition headlines to start rolling once executives get in the same rooms.
On the data side, Jim said Tuesday’s December consumer price index matters more than employment. He said signs from forward holiday spending look strong. That suggests inflation may stay sticky. He said this sets up pressure between a president trying to rein in prices and consumers who already took the hit from higher costs.
Earnings, inflation, and Micron drive the next trade
Earnings season also begins Tuesday with JPMorgan Chase. Jim said he expects a strong quarter but warned about tone. He said Jamie Dimon often stresses risks on calls. That approach has pushed the stock lower before. His plan is simple. If cautious language knocks the shares down, he wants to buy the dip.
Later in the week, Jim said Delta Air Lines should post solid results. He also said banks may lead early in earnings season. He pointed to Citigroup as a possible standout.
Jim also mentioned Wells Fargo, Bank of America, Goldman Sachs, and Morgan Stanley as names he continues to watch. He added that BlackRock could deliver strong numbers, though expectations already sit high.
On tech, Jim said he is focused on Taiwan Semiconductor Manufacturing Company. He said its report could finally force sellers out of Nvidia. Until then, he said money keeps flowing into storage and equipment stocks like Western Digital, SanDisk, Micron, Seagate, and Applied Materials.
He also flagged transport stocks. Jim said a good report from J.B. Hunt would support his positive view on FedEx. By Friday, with PNC closing out bank earnings, he said investors should understand the tone for the rest of the season.
Jimmy also explained why Micron keeps outperforming. “It’s because NVIDIA went and bought a huge amount of high‑bandwidth memory. They cornered a lot of it. That’s why Micron goes up constantly. We are not building it fast enough,” he said.
Analysts backed that view early in 2026. Bernstein raised Micron Technology’s price target to $330 from $270 and kept an Outperform rating. Micron also said it plans to boost spending. The company now expects $20 billion in capital spending for fiscal 2026, up from an earlier $18 billion forecast.
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