Here’s what teenagers think about the iPhone 16 and new personal computers

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 Wednesday’s key moments. 1. Wall Street pushed higher Wednesday after a flat open, with the S & P 500 touching a new record high. The tech-heavy Nasdaq and the Dow Jones Industrial Average also were in the green. Alphabet is dominating headlines after the Department of Justice said in a court filing late Tuesday it’s considering a breakup of Google as a remedy in the antitrust search case. If many of these proposed remedies were to be implemented — though that’s still a ways off — it would not be good for Google’s business . We trimmed some shares on Sept. 25 on concerns over this DOJ overhang, given it’s not going away anytime soon. 2. The latest iteration of Piper Sandler’s teen survey found somewhat lukewarm interest in Apple ‘s new iPhone 16. Roughly 30% of respondents who plan to upgrade Apple hardware said they’re doing so because of Apple Intelligence, the company’s new suite of AI tools due out later this month, the survey found. That may seem a little low, but we think interest in Apple Intelligence — and the new iPhones more broadly — will grow once the public starts using all the bells and whistles. All together, Piper’s survey supports our view that the iPhone upgrade cycle isn’t an immediate boom and instead will play out over the months ahead into 2025. The survey did contain what we consider a positive nugget for Best Buy : About a quarter of respondents said they plan to purchase a new PC in the next six months. 3. Loop Capital Markets upgraded home improvement retailer Home Depot to buy from hold Wednesday while raising its price target to $460 a share from $360. Analysts said that while the hurricanes may be a drag on sales and margins in the current quarter, they expect future demand to lift earnings in later quarters. The stock had a nice run recently, gaining 22% over the past three months and reaching a 52-week high Wednesday. Our last buy was on Sept. 11 during a down day for the market. We would see a pullback in Home Depot shares as a potential buying opportunity. (Jim Cramer’s Charitable Trust is long GOOGL, AAPL, HD. 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.