The CNBC Investing Club with Jim Cramer has provided an afternoon update on the S & P 500, highlighting the impact of rising memory prices on tech stocks. The AI and data center-related names, including Arm, Broadcom, and Alphabet, saw significant gains in April. However, Cardinal Health and Johnson & Johnson were among the laggards due to the market's disinterest in healthcare names. Sandisk reported increased interest in multi-year supply agreements, with five signed so far valued at over $11 billion. These deals ensure consistent supply and ensure that no sales go unrealized due to a lack of supply. The risk with these agreements is that if demand decreases, the customers would still be financially impacted. However these deals have proven to be successful in predicting future revenue needs. For example, Eaton, Arm Holdings, Dupont, and Eaton are expected to continue to perform well.