Jim Cramer's Top 10: Fed chair Warsh, Apple price talk, Intel-Apple chatter and more

1. New sheriff in town at the Federal Reserve. His name is Kevin Warsh. At his first post-meeting press conference yesterday, the new central bank chairman sounded pretty forceful and also like a teacher teaching a relatively uneducated press. Classic overreaction by sellers yesterday. Futures are higher this morning. 2. Apple plans to raise device prices due to surging memory costs, CEO Tim Cook told The Wall Street Journal. Keeping profit margins intact on the next iPhone Pro model may require a roughly $270 price hike, according to research cited by WSJ. Would the cell phone carriers still offer their lucrative iPhone deals to effectively minimize the impact to the consumer? What about the other phone makers? 3. Intel is surging this morning after President Donald Trump wrote on Truth Social that fellow Club name Apple has "agreed to work with Intel to design and build its Chips in America." I'm working to confirm the specific details. But, as I told Club members yesterday in our Monthly Meeting, Intel is my favorite stock right now. Booming CPU demand, and its foundry business is a key national resource. 4. Marvell's price target was raised to $385 from $260 at KeyBanc. Kept its buy rating. Analysts held investor meetings with management and grew more optimistic about Marvell's opportunity in "scale up" networking inside the server rack. This call is part of the game of leapfrog, where analysts endlessly raise their PTs on loved stocks to catch up with shares. Marvell ended yesterday at $289.54. 5. Jefferies started coverage of neocloud Iren with a buy rating and $79 price target, implying over 35% upside. Iren has a compute deal with Microsoft and has a partnership with Nvidia. Jefferies loves the optionality that Iren gets by owning both the land and data centers. Demand for AI computing remains off the charts. We own Microsoft and Nvidia for the Club. 6. Nucor's second-quarter earnings outlook blew estimates out of the water: $4.50 to $4.60, versus FactSet consensus of $4.21. Some non-cash benefit tied to an investment, but it's still an overall strong guide from my favorite steelmaker. AI buildout and reshoring of manufacturing are tailwinds for Nucor's volumes. It's benefiting from higher selling prices too. 7. Citi resumed coverage of Costco with a hold rating and price target of $1,020. Not too far above yesterday's close of $966. While analysts believe Costco is a market-share gainer over the long run, they see a balanced risk/reward in the stock. I've loved Costco for ages, but we need to see membership growth reaccelerate. If not, the stock's premium valuation could be threatened. 8. UBS downgraded Jefferies to hold from buy, saying much of the good news is already priced into the stock ahead of earnings next week. With this much bond issuance and overall capital markets activity, I wouldn't move. Investment banking is red hot. We own Goldman Sachs for the Club, and it's not done setting all-time highs. 9. Stifel upped its price target on SLB, the old Schlumberger, to $64 from $61 after the oilfield services provider held an investor day focused on its digital technology. I like what I heard from SLB chief Olivier Le Peuch last night on "Mad Money." It's a modern growth business buried within an iconic company, with the goal of helping customers drill more efficiently. 10. Citizens said Netflix may need to raise prices again next year to meet Wall Street's consensus 2027 revenue projections. Analysts argued that leaves little room for upside and justifies their hold rating on the stock. The streaming giant hiked prices in March for the first time since January 2025. Seen more M & A chatter around Netflix this week, though the company has denied interest in Lionsgate