Jim Cramer’s Top 10 Stock Market Moves to Watch on Thursday

Stock futures were higher Thursday morning, June 11, although gains faded after President Donald Trump said the U.S. would strike Iran “very hard tonight” and suggested future action against Kharg Island and other oil infrastructure. Oil prices reversed higher on the geopolitical tension, while chip stocks stood out with strong gains in Micron, Sandisk and Intel after recent weakness. At the same time, wholesale inflation for May came in hotter than expected, adding another concern for investors.

Market attention also centered on SpaceX’s initial public offering, with all orders expected to be in and underwriters now working on share allocations. The outcome could influence how the stock opens and shape expectations for one of the most anticipated listings in the market. The situation has fueled speculation that heavy market demand could push the company toward a very large valuation.

Oracle fell after reporting earnings, even though the quarter itself was solid. Investors are weighing the cost of the company’s aggressive artificial intelligence infrastructure buildout, including plans to raise another $20 billion for data center construction. That financing could mean more debt and dilution, but the company also reported a massive remaining performance obligation, underscoring the scale of future business already booked.

Intel received a double upgrade to buy from sell at Bank of America, which cited growing confidence in the company’s third-party foundry business and the potential size of the agentic CPU market. The firm said the combination could create substantial earnings power, while noting that execution remains critical. Bank of America also raised its price targets on AMD and Arm Holdings, highlighting both as key beneficiaries of CPU growth.

JPMorgan kept buy ratings on Coherent and Lumentum after sharp stock pullbacks tied to concerns about slower adoption of co-packaged optics for AI servers. Analysts said those worries appear overstated and pointed to supply-chain checks suggesting Nvidia’s CPO rollout remains on schedule or ahead of expectations. Corning was mentioned as a preferred way to play the optical trend.

Barclays lifted price targets on Lam Research, KLA Corp. and Applied Materials, reflecting continued pricing power among semiconductor equipment makers as demand remains stronger than supply.

Super Micro Computer remained a major focus as investors watched how it plans to raise $7 billion through equity-linked financing, including a $5 billion underwritten stock sale and a $2 billion at-the-market offering. The company has also announced $39 billion in AI server orders in recent weeks, though the capital-raising wave is raising broader market risk concerns.

Goldman Sachs raised its price target on Ford while keeping a hold rating, pointing to opportunities tied to increased data center spending through its power and energy storage businesses. Barclays also boosted its target on J.M. Smucker, citing improving coffee margins and better profitability in snacks. JPMorgan added Kontoor Brands to its analyst focus list, highlighting growth potential at Wrangler and Helly Hansen.