This tech stock just got another Wall Street boost. Why we're on the same page

Breaking news from the markets: Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a. Here's a recap of Monday's key moments. Stocks traded lower Monday as investors weighed renewed airstrikes between the United States and Iran, rising oil prices, and the start of a busy earnings week.

Semiconductor stocks led the decline as traders took profits following the sector's recent rally, with Micron and Club holding Intel each dropping more than 4%. Despite the pullback in chip stocks, portfolio director Jeff Marks said Jim remains bullish on technology. In his Sunday column , Jim argued the sector continues to offer some of the market's strongest earnings growth and is best positioned to capitalize on the artificial intelligence boom.

Economic Details

Meanwhile, West Texas Intermediate crude climbed about 4% to roughly $74 a barrel after the weekend's escalation renewed concerns over the Strait of Hormuz. Club name Apple rose 1. 1% Monday after Citi raised its price target to $365 from $315.

The firm said Apple remains well positioned to gain market share despite raising prices on several MacBook and iPad models to offset soaring memory costs. Apple also filed a lawsuit against OpenAI late Friday alleging trade secret theft. While Jeff said he does not have a view on the legal merits of the case, he noted that Jim thinks "it's a serious lawsuit with legit concerns.

" Jim also remains constructive on Apple's competitive position, saying to "own, don't trade this one" in his morning note . Shares of Club holding Nvidia slipped almost 2% Monday, but Jim remains bullish on the long-term AI story. In his Sunday column, Jim argued Nvidia should pursue a more aggressive share repurchase program to return additional capital to shareholders and suggested the chipmaker could monetize portions of its investment portfolio to help fund additional buybacks.

Analyst Views

Jeff pushed back on the idea of Nvidia taking profits in its Intel stake, arguing it could unnecessarily pressure Intel shares. The Club used Monday's pullback in semis to add to its Intel position , consistent with Jim's view that the chipmaker remains one of the portfolio's highest conviction investments. Stocks covered in Monday's rapid fire at the end of the video were: Boeing , Honeywell Aerospace , Capital One , Goldman Sachs , and Wells Fargo .

(Jim Cramer's Charitable Trust is long AAPL, INTC, 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.

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