What Cramer is watching Monday — Snap cuts, chip stock reset, financials slashed

CEO of Snap Inc. Evan Spiegel walks to a morning session at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho.

Kevin Dietsch | Getty Images

What I’m looking at July 25, 2022

Still downgrading Snap (SNAP), this time Wolfe Research and Morgan Stanley. How could they be so wrong? Is it winner take all, losers take none, versus Club holdings Alphabet’s (GOOGL) Google and Facebook parent Meta Platforms (META)? SNAP down 2% in the premarket after 39% plunge Friday.

Barclays’ semiconductor stock price-target reset: Club holding Nvidia (NVDA) to $200 per share from $295; Skyworks Solutions (SWKS) to $122 from $125; Club holding Marvell Technology (MRVL) to $60 from $80. Qorvo (QRVO) to $120 from $135. This is what is needed to progress.

  • Barclays goes to hold from buy (equal weight from overweight) on Lam Research (LRCX), says it’s way too early to buy the dip. Substantial says reset needed, takes price target down to $450 per share from $625. I don’t know, do you really want to do this ahead of the possible CHIPS act success on Capitol Hill? Barclays lowers PT on KLA Corporation (KLAC) to $325 from $365.

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