JPMorgan Chase & Co. (NYSE:JPM) is among the stocks on Jim Cramer’s game plan as he shared his take on the market post Iran-U.S. ceasefire talks. Cramer mentioned the stock during the game plan and said:
Tuesday’s the first chock-full day of earnings season. It’s got three major banks: JPMorgan, Wells Fargo, and Citigroup. Now, they each have their own characteristics. JPMorgan’s a terrific bank, but it has a gazillion important inputs to its quarter, and its CEO loves to be really cautious. Wall Street often finds things to quibble about, even if they’re not worth quibbling over.
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JPMorgan Chase & Co. (NYSE:JPM) provides financial services, including banking, lending, payments, and investment management. In addition, the company offers investment banking, asset management, and advisory solutions. Cramer discussed the stock during the January 14 episode, as he commented:
When JPMorgan reported yesterday, they posted a solid top and bottom line beat, excluding a $2.2 billion reserve that they took related to the Apple credit card and portfolio that they got from Goldman Sachs. These guys delivered a 7% increase in net interest income with 70% growth for their Markets business. That’s fantastic. That’s mostly sales and trading… These are amazing, but the investment banking business came in light, down 5% year-over-year and 11% from the previous quarter. That weighed down by weakness in both debt and equity underwriting, and that was just plain bad. Of course, even when the numbers are pristine, the reaction to JPMorgan’s earnings hinges on the conference call commentary from CEO Jamie Dimon, who’s become the almost Confucius-like figure for the financial industry. And he often says things that really do freak out people, something that happened again yesterday.
This time, Jamie warned that… ‘geopolitical is an enormous amount of risk,’ and he also had some things to say about ballooning budget deficits in the United States… Maybe that’s why after opening flat, you know, it was actually up $5 in pre-market trading. The stock ultimately tumbled more than 4% yesterday before slipping another 1% today. I think JPMorgan’s stock will be fine. A lot of this was simply because the stock had rallied 35% over the previous 12 months before yesterday’s report. In other words, it was due for a breather.
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