Squawk on the Street

Bernstein Analyst Stacy Rasgon discusses the rebound in chip stocks today ahead of SK Hynik's debut on the Nasdaq tomorrow. Then, we break down PepsiCo's latest earnings and discuss how they're showing two different stories in the U.S. and abroad. Plus, we reveal the top state for AI from CNBC's list of top states for business this year.

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Cramer says the Club needs to be invested in fewer chip stocks. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market’s biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here:  cnbc.com/morningtake

 

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OpenAI CEO Sam Altman joins the show, live from Allen & Co. Sun Valley Conference in Idaho following the rollout of the company’s new AI Model. Plus, he lays out some new efficiency results. Then the CEO of Palo Alto Networks, on AI token costs and his outlook for AI spending. And the CEO of Match Group on how AI is changing the dating landscape.

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Carl Quintanilla, Jim Cramer and David Faber explored stocks rising and oil prices falling, despite the U.S. and Iran trading military strikes for a second consecutive night. Tech and the AI trade getting a big lift from a surge in semiconductor stocks, fueled in part by Micron announcing plans to boost AI spending in the U.S. to $250 billion through 2035. PepsiCo CEO Ramon Laguarta joined the program to discuss the company's mixed quarterly results and the consumer. The anchors grilled him about what it would take to boost the snack and beverage giant's business and sluggish stock performance. Also in focus: Meta AI chip buzz, Costco shares slide on June sales, Salesforce gets downgraded, SK Hynix gears up for its U.S. listing debut slated for Friday.

 

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Cramer says this recent spinoff is very mispriced. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market’s biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here:  cnbc.com/morningtake

 

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Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.