CNBC Investing Club: Nasdaq Slips, Intel Falls, Earnings Ahead

Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments.

1. The tech-heavy Nasdaq is down slightly, weighed down by semiconductor stocks, including Micron and Intel . The S & P 500 is relatively unchanged. Investors seem to be making room for SK Hynix, the South Korean memory-chip giant that debuted on the Nasdaq this morning.

On Thursday's ' Mad Money ,' Jim Cramer said i nterested investors could open a medium-sized position in the company, but advised leaving room to keep building the position if it pulls back.

2. Intel is the chipmaker on our radar, which is down nearly 3%. Jim told Jeff Marks this morning that if not for restrictions, we'd be buying some shares today. Intel, which has quickly become one of Jim's favorite stocks, has declined nearly 10% this week. But we're still believers in management's long-term vision. The company will ultimately benefit from rising CPU demand as AI shifts from training to inference, in which AI models process and respond to user queries. We're also bullish on its expanding chip manufacturing business. We added to the position on Monday, but will look to possibly add more next week. Stay tuned for our trade alerts.

3. We have three portfolio stocks reporting earnings next week: Wells Fargo and Goldman Sachs on Tuesday and Johnson & Johnson on Wednesday. At Goldman, we're looking for updates on its investment banking division after several deals in the first half of the year. Wells Fargo's last several quarters have been far from stellar, and we need to see improvement to support its staying in our portfolio. For Johnson & Johnson , we'll be looking for strong sales in their core cancer and multiple myeloma treatments, as well as from their newer products, including Icotyde , an oral solution for plaque psoriasis. has had a nice rally, Shares are up nearly 8% since its last report in April.

(Jim Cramer's Charitable Trust is long WFC, GS, INTC, JNJ, and AVGO. See here for a full list of the stocks.)

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.