The CNBC Investing Club held its June Monthly Meeting on Wednesday, during which Jim Cramer and director of portfolio analysis Jeff Marks reviewed all 35 portfolio stocks and named Intel as Cramer's favorite investment opportunity. The meeting covered portfolio adjustments across technology, healthcare, financial, and industrial sectors, with specific buy and sell decisions disclosed for multiple holdings. Cramer explained that Intel's upside potential stems from growing CPU demand in data centers and its emerging third-party manufacturing business as companies seek TSMC alternatives. The portfolio review reflects institutional positioning amid ongoing artificial intelligence infrastructure buildout and sector rotation dynamics in equity markets.
Intel Named Top Pick with Data Center CPU Growth Thesis
Cramer identified Intel as the current favorite holding with more upside potential than Nvidia. The investment case centers on central processing unit growth inside data centers, with Intel CEO Lip-Bu Tan indicating the CPU-to-GPU ratio is trending toward parity. The Club bought more Intel on Tuesday and aims to build a larger position. Cramer stated the third-party manufacturing business could take off in coming years as companies look for TSMC alternatives.
Arm Holdings ranked second in the portfolio, with the company building its own first-party data center CPU after historically licensing intellectual property to others including Apple and Nvidia. The Club adopted a risk management strategy of trimming Arm down to a 1% weighting as the stock rises, following its rocket ship performance since the April initiation.
Recent Portfolio Trades Include Intel and FedEx Freight Purchases
The Club executed multiple trades around the June meeting. Beyond the Intel purchase on Tuesday, the team bought Capital One earlier this week as delinquencies declined and the Iran war framework agreement lowered gasoline prices. On Wednesday, the Club purchased FedEx Freight and trimmed Dover to fund that position.
Cardinal Health was trimmed last week after rallying almost all the way back from $182.50 in May to near its early March level around $230. The Club had bought into the May sell-off when the stock got caught in rotation away from healthcare. Wells Fargo has been sold on the way up due to underwhelming returns from new investment banking talent investments.
Technology Holdings Face Magnificent Seven Reshuffling
Cramer stated a re-ordering of the Magnificent Seven is upon us, with newcomers SpaceX and not-yet-public Anthropic and OpenAI potentially displacing members of the old guard: Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia, and Tesla.
Nvidia remains an "own it, don't trade it" stock despite shares seeming stuck in molasses, with the company collecting billions from hyperscalers for graphics processing units. Cramer said Nvidia needs to start repurchasing stock by the barrelful and is too cheap to give up on.
Meta Platforms faces uncertainty, with WhatsApp not yet a major money-maker and no cloud-computing business to justify AI spending. Cramer questioned whether Meta will be important a few years from now at this pace. Microsoft presents a similar quandary, with Azure revenue still dependent on enterprise software at risk of AI disruption and its Copilot tools not as strong as OpenAI and Anthropic offerings.
Broadcom shares jumped Wednesday after JPMorgan analyst Harlan Sur pushed back on concerns that Google's ninth-generation custom chip co-designed with Broadcom has been delayed or canceled. The Club advised letting the stock ride as it overcomes post-earnings decline.
Data Center Infrastructure Plays Surge in 2026
Corning stock has surged in 2026 as the market embraces physical data center buildout names. The company makes optical fibers and connectivity solutions for these facilities and benefits from data center operators transitioning away from copper.
Eaton has a thick order book supporting both cooling of data centers and equipment to hook them to power lines. CEO Paulo Ruiz has proven to be a fabulous leader in his first year.
GE Vernova has been the most aggressive builder of heavy-duty turbines that turn natural gas into electricity. Management is scaling production capacity to meet unprecedented demand, with a $200 billion backlog for 2027 way ahead of expectations.
Qnity Electronics, spun off in November from DuPont, has almost doubled in 2026 and now carries a market cap of roughly $33 billion versus its former parent's almost $20 billion. The company sells materials and products used to make and package semiconductors.
Healthcare Stocks Rebound After March Rotation Selloff
Cardinal Health dropped from about $230 in early March to $182.50 in May during vicious rotation away from healthcare. The Club said nothing was wrong and bought the sell-off, with the stock now rallied almost all the way back.
Eli Lilly has the best growth of any large drugmaker, with next-generation weight loss shot retatrutide getting buzz for muscle-preserving effects compared with existing GLP-1s such as Lilly's Zepbound and Novo Nordisk's Wegovy.
Johnson & Johnson has the second-best growth outlook in pharma with strong drug franchises in immunology and cancer plus medical devices opportunities in heart health and robotic surgery. The Club may buy more if the recent pullback continues, noting high-quality stocks going lower without earnings outlook changes means they've gotten cheaper.
Financial and Industrial Positions Adjusted on Performance
Goldman Sachs has been the best performer in the financial group, doing great things with initial public offerings in 2026 including its crucial role taking SpaceX to market last week. That means huge revenue increase for its investment banking division.
Capital One is among the least expensive banks in the S&P 500, with delinquencies down and close ties to U.S. consumer health. The Club is letting it run after this week's purchase but needs to see more from recent Discover and Brex acquisitions.
Boeing is about to take off according to the Club, trading on free cash flow that seems improving as monthly deliveries jumped again last month. Deliveries are a key FCF indicator because it's when customers hand over money for orders.
FedEx is crushing rival United Parcel Service and could have a huge second half of the year. Recently spun off FedEx Freight can be a self-help story improving margins and sales as standalone firm offering less-than-truckload services. The Club wants to be bigger in both FDX and FDXF.
Honeywell will split into two companies at the end of the month, separating from its aerospace business. Honeywell Aerospace may trade almost as well as GE Aerospace, while leftover Honeywell Technologies will have huge business as liquefied natural gas plants hit during Iranian attacks are rebuilt.
Consumer and Retail Holdings Show Mixed Performance
Home Depot is the stock levered to Federal Reserve Chairman Kevin Warsh cutting interest rates and sparking housing market rebound. The stock has made a nice move in recent weeks, with an eventual rate cut potentially sending Home Depot to $400 per share—20% upside to current levels.
Starbucks CEO Brian Niccol has been delivering lots of little things in a gradual turnaround that is happening nonetheless, rather than the big things people keep expecting.
TJX Companies had a nice rally this month after giving back some post-earnings gains from its May 20 strong numbers. Traditional department store woes are boosting T.J. Maxx and Marshalls, while HomeGoods delivered phenomenal 9% same-store sales growth.
Nike's quarterly earnings report on June 30 is its last chance to show the stock deserves to stick around. Stock purchases from Nike insiders haven't meant anything, which has been disappointing no matter how you slice it.
FAQ
Why did Jim Cramer name Intel as his favorite portfolio stock?
Cramer identified Intel as the top pick due to growing CPU demand in data centers, with Intel CEO Lip-Bu Tan indicating the CPU-to-GPU ratio is trending toward parity. The investment case also includes Intel's third-party manufacturing business potentially taking off as companies seek TSMC alternatives. The Club bought more Intel on Tuesday and aims to build a larger position.
What trades did the CNBC Investing Club execute around the June meeting?
The Club bought more Intel on Tuesday, purchased Capital One earlier this week as delinquencies declined, and bought FedEx Freight on Wednesday while trimming Dover to fund that position. Cardinal Health was trimmed last week after rallying back from May lows, and Wells Fargo has been sold on the way up due to underwhelming investment banking performance.
How is the portfolio positioned on technology stocks amid AI infrastructure buildout?
The portfolio maintains Nvidia as an "own it, don't trade it" holding despite recent stagnation, with Cramer saying it's too cheap to give up on. Intel and Arm Holdings are top picks for data center CPU growth. Physical infrastructure plays like Corning, Eaton, and GE Vernova have surged in 2026 on data center buildout demand. Meta and Microsoft face uncertainty due to questions about AI spending justification and competitive positioning against OpenAI and Anthropic.
