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 Thursday ‘s key moments. 1. The stock market fell on Thursday, led lower by Microsoft , as investors reacted to its earnings results and the Federal Reserve’s decision on Wednesday to hold interest rates steady. “This is largely Microsoft and software companies coming down because of Microsoft,” said Jim Cramer. Microsoft topped revenue and earnings estimates in its fiscal 2026 second quarter, but Azure failed to deliver meaningful growth upside. Software-as-a-service stock ServiceNow is also taking a hit, dragging down Salesforce , CrowdStrike , and Palo Alto Networks. 2. Microsoft is down almost 12% since reporting results. “Don’t count ’em out,” Cramer said. “If this stock is down tomorrow, I’m going to tell people to buy it.” The software giant has some issues to sort out to either get more Azure capacity online or to better balance capital expenditure growth to improve margins, as we wrote in our earnings analysis. Meta , on the other hand, climbed more than 9% after an earnings beat with revenue up 24%. A shaky market has limited the stock’s rally, Cramer said. “This was probably the cleanest first-quarter guide of any company I follow. They are very, very bullish. They’re spending a lot. But they’re getting a lot more.” 3. Apple is modestly lower heading into its earnings release after the bell. The big question for the iPhone maker is whether it can absorb the costs of the memory shortage weighing on the tech supply chain. The shortage has given storage companies like Seagate and Western Digital significant leverage in pricing. We’ll also be looking for more information on Apple’s recently announced partnership with Alphabet to use Gemini AI models to power Siri. (Jim Cramer’s Charitable Trust is long APPL, CRM, CRWD, META, MSFT. 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.
