Hey, it's Kramer, and this is my morning take on the market from today's CBC Investing Club morning meeting.

This is one of those things where you and I in the club are across purposes with what the media is saying.

The media is saying that because the Fed is maybe still cut two or three times, that therefore stocks are good.

You and I both know that what this does is make it so we're not fighting the Fed, but it makes

it even more important that we analyze earnings.

It doesn't do any good to do Fed speak.

That has cost a lot of people a lot of money.

As people sit on the sidelines waiting for the Fed to do something. What we do is plunge right in.

We get in, we get our hands dirty with stocks like Nvidia, the Stocksyk, Broadcom, and yes,

we're talking about Apple in a moment.

But I think when you don't fight the Fed, Jeff, it's a good situation.

No, absolutely.

And if you focus on the big earnings report last night, and what is central to the biggest theme driving the market right now, AI, you heard really good things from Micron. We'll talk about them more in the rapid fire. But the big thing is that for this year, supply to be below demand for DRAM and NAN. That means their margins are going to improve.

A lot of that is due to AI server demand driving this rapid growth for their high bandwidth memory.

2024 is already spoken for Jim and 25 they're saying it's on allocation.

Yeah, I was kind of shocked.

Reading the transcript and you get and everything's good, the server's good,

PC's good, obviously twerthing, a quarter head and a lot of these different NAN, regular

products that they've had for years. And then suddenly it gets where they're talking about

the high bandwidth memory that goes in to, say, someone who buys Blackwell. Dell would

go buy it, for instance, put it together. And you realize, oh my, I've never heard Sandra Meroza ever say anything like this, that they

literally are spoken for for 2025. And by the way, the gross margins on these chips are three times

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