Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. JPMorgan : CEO Jamie Dimon’s annual letter to shareholders is out. He thinks artificial intelligence can be as revolutionary as the printing press, steam engine, electricity, computing, and the internet. He also sees a broad range of interest rates from 2% to 8%. “Jamie Dimon is a cautious banker. That said, I think they’re going to have a good quarter. The letter made me feel even better about it,” Jim Cramer said Monday. But Cramer added that his read of the Dimon letter signals business might be tougher down the road. JPMorgan and Club bank stock Wells Fargo kick off earnings season Friday. Tesla : The EV maker had a volatile day Friday. But shares were up more than 4% on CEO Elon Musk announcing a robotaxi event for August. “The robotaxi. The CyberTruck. Enough already. Hey, you’re getting your a** kicked. How about that?” Cramer said. Taiwan Semiconductor Manufacturing Company : The chipmaker gets $6.6 billion from the U.S. government to support to building three plants in Arizona. “Commerce Secretary Gina Raimondo delivered a great contract. It’s two nano. And that’s what we need in this country,” Cramer said. America needs chip manufacturing security to mitigate the risk of China doing something in Taiwan, he added. Take-Two Interactive : The video game stock was upgraded at Citi to buy. The analysts like the risk-reward ratio following a recent sell-off on GTA 6 timing uncertainty. Does Citi know “when Grand Theft Auto is going to ship?” Cramer asked. He said if the analysts do, they have a right to make that call. Fastly : The stock was upgraded to a buy-equivalent overweight rating at Piper Sandler. The analysts said the company is gaining market share in the core content delivery network market. “I think this content delivery market is ripe for consolidation,” Cramer speculated.
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