Jim Cramer shares his thoughts on 3 stocks including McDonald's after tech outage
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. McDonald’s : The fast-food chain had to temporarily suspend operations at stores in some countries, including Japan, after suffering a technology outage. The company said it was not related to cybersecurity. Shares fell about 0.4% Friday. “This will have no impact whatsoever, except for to buy the stock because McDonald’s, in the end, is king,” Jim Cramer said. The overall pecking order, he said, is McDonald’s followed by Burger King owner Restaurant Brands International and pizza chain Papa John’s. Micron Technology : Shares climbed more than 2.5%, to roughly $94 each, after Citigroup analysts raised their price target on the memory chipmaker to $150 a share from $95 and named the stock one of their top picks. The call comes ahead of Micron’s fiscal second quarter earnings report Wednesday. Cramer said he’s wary of price-target bumps rooted in multiple expansion for stocks. “I think that Micron, when they actually report, will be disappointing. Why do I say that? Because Micron is inherently disappointing. It seems to be what they do, and that’s because … [CEO] Sanjay Mehrotra does not like to get expectations ahead” of themselves unlike companies such as Adobe, Cramer said. In semiconductors, the CNBC Investing Club owns shares of Nvidia and Broadcom . Snowflake : Shares added 0.4% after Guggenheim Securities upgraded the cloud data company to a hold-equivalent rating from sell. In late February, Snowflake stock tumbled 18% in a single session after veteran CEO Frank Slootman announced his retirement alongside a weaker-than-expected first-quarter outlook. “Really?” Cramer said of the upgrade.