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 Tuesday’s key moments. The Nasdaq on Tuesday shot up past 17,000 for the first time ever — driven by further gains in shares of Club name Nvidia . In response, Jim Cramer said, “Nvidia is capturing so much of the mindshare that maybe people are selling [the broader market] to make a bigger position in Nvidia.” Shares of the AI chip giant rose 5% — extending last week’s rally, which was spurred by another fantastic quarter , guidance and forward-looking commentary. The Dow Jones Industrial Average and S & P 500 were both under some pressure — mirroring the divergence we saw last week. Apple stock climbed nearly 1% on Tuesday on signs of increased demand for the iPhone in the world’s second-largest economy. iPhone shipments in China surged 52% in April, a significant bounce back from March thanks to price cuts to its flagship device, according to new data from the China Academy of Information and Communications Technology. But Jim said that investors shouldn’t take the report at face value. “I’m not buying it,” he said. “I think the direction is correct, but that’s just way too big.” He said iPhone shipment numbers are volatile and often inaccurate. UBS also pointed out that April tends to be seasonably soft and the big monthly increase only represents a gain of about 1 million units. Citi upgraded DuPont to a buy rating from a hold and boosted its price target on the Club name to $95 per share from $85. The analysts said DuPont’s recently announced plan to separate into three publicly traded companies should lead to more upside for shares. BMO Capital and Wells Fargo Securities also upgraded the stock last week. The Club shares similar sentiments to the Wall Street firms — saying a break up is a win for shareholders. “This is [CEO] Ed Breen’s ultimate plan to get the stock to $100,” Jim said Tuesday as shares traded around $82. We bought more DuPont shares on that optimism — and, separately, initiated a position in global manufacturing company Dover . (Jim Cramer’s Charitable Trust is long AAPL, DD, DOV, NVDA. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
This article was originally published by Cnbc.com. Read the original article here.