Cramer says this aerospace stock is significantly undervalued, sees 35% upside

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 Tuesday's key moments. 1. Stocks rose Tuesday as Wall Street looked to cap a strong first half of the year, despite lingering questions around the Middle East and the sustainability of AI spending. West Texas Intermediate crude held at just above $70 a barrel after the U.S. and Iran agreed over the weekend to halt their attacks and allow commercial vessels to pass through the Strait of Hormuz. Investors also continued rotating within the AI trade, favoring semiconductor suppliers over the hyperscalers financing the industry's massive capital spending. Jim said companies with clear, multi-year demand visibility — including Micron and other memory chipmakers — remain among the most compelling ways to invest in the AI buildout. "[Micron's] a stock you want to own — a company that has that kind of demand," he said. 2. Club holding Cardinal Health continued its rally after rebounding from what Jim thinks was an unjustified sell-off earlier this year. He said the stock's weakness had nothing to do with the company's fundamentals and everything to do with investors rotating out of healthcare. …