Jim Cramer Wants to Replenish Corning Position After Data-Center Stock Pullback

Monday's rally got a boost after President Donald Trump dropped plans to strike Iran, sending oil prices lower. West Texas Intermediate crude fell almost 6%, to below $80 a barrel. Jim Cramer called it 'a Boeing day' after the planemaker jumped nearly 5%, but cautioned that the move underscores a theme-driven market where stocks can swing without clear fundamental changes. 'Oil does control a lot of what happens,' he said.

Amazon shares rose more than 4% and set an intraday high near $287, extending a post-earnings surge of 15.3%. Cramer said CEO Andy Jassy's defense of heavy AI infrastructure spending helped improve sentiment around Amazon and its hyperscaler peers Alphabet, Microsoft, and Meta. The Club had stayed patient with those stocks, and Cramer called the move 'a vindication' of that stance. In his Sunday column, he ranked Amazon his top hyperscaler, followed by Microsoft, Alphabet, and Meta.

Eaton rose nearly 4% after Evercore upgraded the electrical equipment maker to a buy-equivalent rating and raised its price target to $502 from $453. Corning was upgraded at Truist, though its target was cut to $175 from $205 after a 45% pullback in July. Cramer said he now wants to 'replenish' the Club's Corning position, calling short-term disappointment with the company's earnings report 'ridiculous.' Corning makes fiber optic cables used in data centers.

Source: CNBC