final answer.
During Thanksgiving week, a rally lifted all three major U.S. indexes, but none managed to finish November in the green. The S&P 500 posted a 3.9% weekly gain, the Dow Jones Industrial Average rose 3.2%, and the Nasdaq Composite added just over 4%. Those weekly moves were enough to keep each index in positive territory for the month, extending a seven‑month streak of monthly gains for the S&P 500 and Dow. However, the Nasdaq’s modest weekly advance could not offset a broader pullback earlier in the month driven by valuation concerns surrounding the artificial‑intelligence trade, leaving the tech‑heavy index down roughly 2% for November and snapping a seven‑month winning run.
Apple (AAPL) emerged as the top performer in our portfolio during the shortened trading week. The stock climbed to three consecutive all‑time highs from Monday through Wednesday, boosted by strong demand signals for the newly launched iPhone 17 series. Counterpoint Research, which released its quarterly market‑share forecast on Wednesday, predicts Apple will overtake Samsung as the world’s largest smartphone manufacturer in 2025, capturing 19.4% of global shipments versus Samsung’s projected 18.7%—a milestone Apple has not achieved in more than a decade. The momentum continued on Friday, closing the week with an almost 3% gain.
Chipmaker Broadcom (AVGO) logged record‑high closes on every trading day of the week, advancing more than 18% on a week‑to‑date basis. Wall Street is increasingly viewing Broadcom as a key beneficiary of Alphabet’s expanding AI ecosystem. Google’s rollout of its latest large‑language model has amplified demand for Broadcom’s custom silicon, particularly its Tensor Processing Units (TPUs). Reports that Meta Platforms is evaluating Google’s TPUs for its 2027 data‑center build‑out added another catalyst, suggesting a broader shift toward Broadcom’s networking and custom‑chip solutions. By contrast, Nvidia (NVDA) slipped to a three‑month low after the same reports highlighted some large‑tech customers exploring non‑Nvidia alternatives. Veteran market commentator Jim Cramer called the dip “a buying opportunity,” noting that Nvidia still dominates the high‑margin AI‑chip market and that demand remains “insatiable.” Nvidia shares fell 1% for the week.
In the consumer‑discretionary space, Dick’s Sporting Goods (DKS) delivered a strong quarterly report that reinforced our bullish stance on Nike (NKE). During the earnings call, Dick’s announced the closure of several underperforming Foot Locker locations, underscoring a strategic pivot toward its core brick‑and‑mortar business. Executive Chairman Ed Stack highlighted Nike’s robust performance across its running portfolio—including Pegasus, Vomero, and Structure—both at Dick’s and Foot Locker stores. The positive retail partnership narrative helped Nike climb nearly 3% week‑to‑date.
We also executed two discretionary trades during the holiday‑shortened session. On Monday we added to our position in Palo Alto Networks (PANW) after the stock’s post‑earnings sell‑off appeared overstated. The company reported a “beat‑and‑raise” third quarter, exceeding expectations across revenue, billings and net income. Palo Alto’s “platformization” strategy—bundling security services into integrated solutions—continues to gain traction, highlighted by its $3.35 billion acquisition of Chronosphere and the shareholder‑approved purchase of identity‑security leader CyberArk, slated for Q3 FY2026. Jeff Marks, director of portfolio analysis, noted that the firm is positioning itself for the AI era by expanding two core platforms at a time when their respective markets are reaching inflection points.
On Tuesday we increased our holding in Procter & Gamble (PG), marking the second addition since the initial purchase on November 18. The defensive consumer‑goods giant remains an attractive hedge against a potential rotation out of high‑growth “Big Tech” stocks toward more resilient, cash‑flow‑driven businesses. If AI‑related spending moderates or the broader economy slows, defensive champions like PG are likely to outperform.
Investors who follow the CNBC Investing Club receive trade alerts before any transaction is executed. By policy, Jim Cramer waits 45 minutes after issuing a trade alert before acting, and if a stock has been discussed on CNBC television, he observes a 72‑hour cooling period before execution. All club communications are subject to the platform’s terms, privacy policy and disclaimer; no fiduciary duty is created by receipt of club information, and past performance does not guarantee future results.
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