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

morning meeting.

Now let me just go over a couple of things that are really, really important.

First of all, we were going to buy some Starbucks this morning.

David Faber, my partner, did not know that, obviously, so therefore we are frozen.

But I do want to tell you that we think that the stock has come down way too much.

The verdict of what was the quarter was really the morning that we interviewed Brian, Brian Nicolus, CEO,

and we're getting a gift here. I think you want to buy Starbucks. The turn is for real. In my conference call,

with them, it's very clear to me that they are way ahead of where I thought they'd be at this point. China's worth a lot more. And most importantly, they have got the throughput situation down. That had been their biggest. Threeput's very boring. People don't talk about it. I would be a buyer of Starbucks. Secondly, Palant's yours tonight. I think they can do north of a billion. you're going to see all the figmas and circles be sold because it's the same hot money that is chasing those. There's a deal by the way called Firefly this week that will also be chased. A lot of hot money, about 800 million, upsized, I think, right now it's 600. So be aware that there's this undercurrent of what I call crazy money.

That's right, crazy money that's seeking a quick return and it's going out of Figma, out of circle, and going into Pallenteer ahead of the quarter that's reported tonight.

Third, let's go over what really was the story last week.

We had meta, we had Microsoft, we had Apple, and we had Amazon. So who spent the most

on AI? Well, the answer is meta, which you can see is up a lot, and Microsoft, the market

wanted to see a lot of spend because that's where the return is. Now, you may think that they

spend too much money, that doesn't matter. People want to see a lot of spend. Who didn't spend a lot? Apple and Amazon. Apple, we're trying to figure out what they're really going to do. They actually have the cash to be able to buy a perplexie if they wanted to. Or they might be able to do something on their own that we just don't know that is secret. They are very good at keeping secrets there,

which leads me to Amazon. Now what happened with Amazon that the stock has been acted terribly?

It was not retail. Retail was incredibly strong. It was not advertising. That was terrific.

It's the idea that they spent a lot of money on their own chips, Traneum, and not enough on Blackwell,

which is what Nvidia makes. If you spend a lot of money on Blackwell, which is what the Vivida makes.

If you spend a lot of money on Blackwell,

then you're probably going to be leaping ahead.

And there you're seeing as a lot of people and companies,

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