Here’s our monthly update on all 35 portfolio stocks, including Cramer's favorite name to buy

At CNBC Investing Club’s June Monthly Meeting, Jim Cramer reiterated a constructive view on several AI and data-center beneficiaries, naming Intel his favorite stock and saying the club bought more shares. He was also positive on names like Alphabet, Nvidia, GE Vernova, Eaton, Linde, and Boeing, while remaining cautious on Meta, Microsoft, Salesforce, and Wells Fargo. The discussion also highlighted trimming winners such as Cardinal Health, Dover, and DuPont, and adding to FedEx Freight as part of a portfolio rebalancing.

Analysis

The key takeaway is not simply that “AI winners” are broadening; it’s that the spend curve is bifurcating into compute owners, power/thermal infrastructure, and second-source manufacturing beneficiaries. That is a structural shift because the second and third buckets typically re-rate with less headline risk than the platform names, yet still participate in the capex cycle for longer than the initial chip leg. In that setup, the most attractive risk-adjusted exposure is in companies that monetize the buildout without needing model leadership, especially where backlog visibility converts to 12-24 month earnings revisions.

The real second-order effect is competitive pressure on the hyperscalers and platform giants: if AI economics remain capital-intensive, margins migrate away from software distribution and toward physical bottlenecks like energy, cooling, optics, and advanced packaging. That creates a relative-value argument for names such as GEV, ETN, GLW, LIN, and Q, while making the “winner-take-most” narrative for MSFT and META less durable if their AI spend does not translate into monetization faster than peers. Intel’s setup is particularly interesting because even modest share gains in data-center CPUs or foundry utilization can drive outsized operating leverage from a depressed base, whereas the upside in already-large leaders is more dependent on buybacks than on surprise growth.

A more contrarian read is that several “quality defensives” may be overowned as growth slows: COST, PG, and parts of healthcare can lag if the market rotates toward self-help and cyclical reacceleration. Conversely, the biggest near-term upside surprise may come from names with visible operating inflections but low consensus credibility—BA, FDX, FDXF, GS, and INTC. The risk is timing: these trade well over months, not days, and any macro wobble or AI capex pause would hit the higher-beta industrial and semiconductor group first.

Key Decisions for Investors

• Overweight INTC vs NVDA in a 3-6 month relative-value trade: long INTC / short NVDA on the thesis that CPU share, foundry optionality, and valuation re-rating can outperform a crowded leader with slower incremental upside.
• Build a basket long in GEV, ETN, and GLW over the next 2-4 weeks: these are the cleanest beneficiaries of AI physical infrastructure, with backlog/order visibility offering better risk/reward than platform software.
• Pair long FDX or FDXF against UPS for a 2-3 month window: execution and self-help should keep the spread widening if parcel trends remain stable and UPS continues to lag on margin recovery.
• Trim or hedge MSFT and META on strength if AI monetization does not accelerate by the next quarterly prints: use call overwrites or put spreads to express the view that capex intensity is outpacing near-term revenue proof.
• Add on pullbacks in GS and BA for cyclical upside over 6-12 months: both have identifiable catalysts tied to capital markets and delivery/FCF inflection, with asymmetric upside if the macro backdrop stays constructive.