Jim Cramer's Investing Club meeting Tuesday: Bull market, Nvidia, Amazon

Published Tue, Feb 7 202311:37 AM EST

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 Tuesday's key moments. Stay bullish Buy Nvidia for AI play Watch Amazon 1. Stay bullish Stocks were mixed Tuesday morning ahead of a speech from Federal Reserve Chairman Jerome Powell, as investors awaited potential comments on the direction of interest rates. Declines seen at the start of the week suggest we could be in for a tough month of trading . But even a bull market takes breaks from continuous runs. "I think we're in a bull market," Jim Cramer reiterated Tuesday. 2. Buy Nvidia for AI play Big tech names are fighting to create the best artificial intelligence (AI) platform. Microsoft (MSFT) has made a multi-billion dollar investment in ChatGPT , while Alphabet (GOOGL) is developing a rival product , known as Bard. However, the real winner of the AI gold rush will likely be semiconductor firm Nvidia (NVDA). That's because the chipmaker has the products and services necessary to create actual platforms for artificial intelligence. Jim on Tuesday advised investors to buy shares of Nvidia here if they're looking for an AI play. Nvidia stock climbed 2.47% in midmorning trading, to $216.11 a share. 3. Watch Amazon Shares of Amazon (AMZN) have fallen roughly 12% since Feb. 2, when the company reported a fourth-quarter revenue beat but announced lighter-than-expected guidance that disappointed investors. We continue to expect Amazon to further rein in costs this year, through layoffs or by cutting unprofitable projects, allowing its stock to soar. But in the meantime, we're looking for the stock halt its plummet and stabilize. Shares of Amazon were trading down nearly 3% Tuesday morning, at $99.31 apiece. (Jim Cramer's Charitable Trust is long AMZN, GOOGL, MSFT, NVDA. 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.