Analysis: LLY BA AMD

In today's Daily Rundown, Jim Cramer discusses the markets, technology stocks, Eli Lilly (LLY) , Boeing (BA) order dynamics, Advanced Micro Devices (AMD) and more!

KATHERINE ROSS: This is The Daily Rundown. It is Friday, June 11. I'm Katherine Ross, and I am joined by Jim Cramer. Jim, are we seeing a rotation back into tech? And how should members think about what we're seeing on this 10-year in the markets?

JIM CRAMER: Well, look, I think it's a certain type of growth that's come back. We made a very strong push for Action Alerts for Amazon. And Amazon's had a remarkable week. This seasonally has been the best week to own Amazon. We highlighted that in Mad Money.

I think that the senior growth stocks, like an Alphabet, like a Facebook doing quite well. Some of these have underperformed of late. Apple's still underperforming. People are taking another look at a lot of the De-SPAC growth stocks that are working their way back. I don't really have anything to recommend there, but I see them going higher.

I want to get away from this growth versus value and really emphasize in our sectors. I think that we want aerospace sector, because we think that that's going to take off. We want drugs, because we think that there's some great drug companies with good things and prospects. We're taking some action there, by the way.

But I want to get away from the notion of growth versus value, cause I like to talk about good stocks versus bad stocks. Because that's what I've always talked about. And I think the growth versus value is the false dichotomy.

KATHERINE ROSS: And you guys exited Eli Lilly this morning. Can you tell us what was behind that move?

JIM CRAMER: Well, I feel that the rebellion among the thought leaders and panelists that approved the Biogen without really any reservation drug for Alzheimer's is telling. Meaning that if you are one of the three people now who have resigned, I think that if Lilly's trying to get a group together to be able to examine-- the FDA is going to examine a second drug like this, I think it's going to be a very hard time. And I think that we made club members a fortune on this one after battling it all the way down at $179.

And I think that that was something-- sometimes you just have to say, you know what? I am going to take that darn gain. And that's what we did with Eli Lilly.

KATHERINE ROSS: Well, and earlier this week, Jim, Southwest increased their 2022 firm orders by 34 of Boeing 737 Max aircrafts.

And then this morning, The Wall Street Journal is reporting that, and I'm quoting, "the plane maker has reduced inventory of jets whose original buyers walked away from the deals during the pandemic." So shares have been met with resistance at around $250 level, but should members be buying during this period of consolidation?

JIM CRAMER: Well, I think the big deal this week was United coming in. And United being very, very aggressive, and really chipping at the inventory.

At this point it's all on Boeing. If Boeing can execute, then the third quarter is going to be a good one. This quarter's not good. I've been saying that over and over again. That's why the stock has stalled. Not a good quarter.

But if Boeing can execute, the third quarter is going to be very good. If they execute, I think you get certification from China. We keep waiting for China to do small things. Now, BlackRock apparently able to offer a mutual fund there. That's very positive.

Where you're doing the Didi deal, I mean, I think that there should be some reciprocity. We do things for them, they should do things for us. So I think that if Boeing gets certified, that stock's going to go right to $300, which is why I think it's very important to own Boeing.

KATHERINE ROSS: All right, and then we've got a member question for you, Jim. Jim, as a loyal club member, what's it going to take to move AMD? The new chips they come out with, the $4 billion buyback lifts. Then the stock then falls off. I see you've been buying some more. I don't want to panic.

JIM CRAMER: None of those things matter. What matters is the Xilinx deal has to close. And once the Xilinx deal closes, then you've got a very different mosaic of business that isn't in direct competition with Intel on the bad end and Nvidia on the high end. You have a much, much better mosaic, and a much better story for Lisa Su to tell.

So I think that when that deal closes, which I think is imminent, not that many objections to it, then I think the stock's going to take off. So we've been saying, please stay the course, AMD.

KATHERINE ROSS: All right, and I do want to thank Jeff for coming on and hosting both TheStreet Live and this rundown this week. It's been such a pleasure to see you and Jeff side by side, Jim.

JIM CRAMER: Aw, it's been great. It's great to see people now. I mean, I'm on the floor of the exchange. Life's returning. And I am so in favor of that.

KATHERINE ROSS: So am I. All right, thank you guys for joining us this week.

JIM CRAMER: Thank you.

KATHERINE ROSS: I'm Katherine Ross, and we'll see you on Monday.