Jim Kramer here to share a short preview of my take on the market from today's

members-only CNBC Investing Club morning meeting.

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That's one word, morning take. We downgraded this the other week,

but Melius is tough on Microsoft too. They lower their price target of 400. You know that it really is

the ghost of alphabet that keeps me from saying, you know what, I'm done. I can't fight it because it's down 20%.

And the reason I say that is because you're not dealing with a company that has no means.

It's an incredibly rich company. You're not dealing with a company that has bad management.

It's among the best management in the whole S&P. And this is, you've likened it to Google when they first rolled out BARD.

That was a huge whiff, a big miss versus chat GPT and the other AI models.

But Gemini has taken leadership and Alphabet has figured out its full AI stack.

Meanwhile, Microsoft, there was reports last week, reorganizing

co-pilot. Meli is saying, you don't do this into strength. This is weakness. But maybe it's

something what they need to do. Let's say they decided, you know what, we're going to go all

AI and we're going to lay off 50,000 people.

That stock goes higher, not lower.

And I think that that's a company that has the balance sheet to do that.

Some other big stories today.

Synopsis is Elliott Management.

It takes a multi-billion dollar stake, pushing for changes like raising prices.

The stock should be up more, and I'll tell you why.

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