My top 10 things to watch Friday, Jan. 23 1. Chinese officials told the country's biggest tech firms, including Alibaba , that they can prepare to order Nvidia's H200 AI chips, according to a Bloomberg report . Separately, CNBC reported that Nvidia CEO Jensen Huang plans to visit China in the coming days ahead of the mid-February Lunar New Year, according to people familiar with the plans. Shares of the AI leader are up 1% in the premarket. 2. Don't give up on Intel . Shares are down 13% after reporting mixed quarterly results and weak guidance for the current three-month period. But it's been just ten months since the company appointed Lip-Bu Tan as its new CEO, following a volatile four-year run under Pat Gelsinger. The balance sheet had to be addressed. It is now fixed. The orders are overwhelming. Demand is incredibly strong, and the chipmaker is winning new clients. JPMorgan raised its price target to $35 from $30 but kept a sell rating, while Mizuho raised it to $48 from $41 and maintained a hold rating. 3. Capital One posted a disappointing quarter versus the old metrics. But it is building a whole new payments network with its $5.15 billion acquisition of Brex, a fintech company that helps corporations pay bills. This purchase, on the heels of its acquisition of Discover, furthers CEO Richard Fairbank's plan to upend American Express . Capital One shares are down 2%. 4. COF's Fairbank is talking about how unusually high tax refunds this year (compared with the lack of ACA subsidies last year during the shutdown), plus the addition of "Trump accounts," should add substantially to the flow of funds into the S & P 500 . 5. KeyBanc reiterated its buy rating on Microsoft with a price target of $630, representing nearly 40% upside from current levels. The firm cited better-than-expected performance from its security business and increased demand for its Azure cloud service. 6. Goldman Sachs said it's time to buy Spotify after a huge sell-off. The analysts like the premium subscription business, long-term secular growth theme, and monthly active user growth. However, the firm cut its price target on shares to $700 from $735. 7. As expected, here come the upgrades for Procter & Gamble , which reported an expected weak quarter on Thursday. JPMorgan and DBS Bank raised to buy from hold. Wells Fargo upped its price target to $165 from $158. Expect accelerated growth and expanded margins. Get ready to know the name of CEO Shailesh Jejurikar, who appears to have the situation under control. We were pleased to see the company remains on track to hit its guidance targets for organic sales growth, core EPS growth, and adjusted free cash flow productivity. 8. JPMorgan downgraded Southern Copper to sell from hold, calling the top in the stock relative to the price of copper. The analysts instead like Vale . Be careful here: the gold rally is about both the weakness in the dollar and the weakness/dysfunction of crypto as a store of value rather than a plaything of the rich. Bernstein downgraded Freeport-McMoRan to hold from buy, and said the current valuation embeds a much higher copper price than Bernstein is comfortable with. 9. Haleon , which, like Kenvue , makes OTC medicines, vitamins, and oral care products (Sensodyne, Advil, Centrum), was upgraded to buy from hold at Barclays. Seems like a lame upgrade, but there is a lot to be said for this one being a consolidator. Aggressive growth under CEO Brian McNamara? 10. Starbucks price target raised to $95 from $88 at Gordon Hassett. A big increase ahead of the analyst meeting on Jan. 29. I actually expect CEO Brian Niccol to lower expectations. No reason to keep them high. He should take the hit. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) 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.
