- CNBC’s Jim Cramer believes in the potential of the “Magnificent Seven” tech stocks and thinks investors who sold after recent dips may regret their decision.
- Cramer emphasizes that you shouldn’t panic and follow the herd just because everyone else is selling, especially when it comes to high-quality stocks.
CNBC’s Jim Cramer stands by his “Magnificent Seven” tech stocks during earnings season, despite the concerns surrounding the bond market. He believes that many of these stocks have already rebounded after post-earnings declines, potentially leaving sellers full of regret.
Cramer’s top tech picks are Amazon, Apple, Nvidia, Microsoft, Meta, Alphabet, and Tesla.
Cramer highlights the importance of not panicking and selling off high-quality stocks simply because others are doing it. He believes that waiting for the market to stabilize may present better opportunities for investment.
According to Cramer, Amazon and Meta saw declines even after positive quarters, but their stocks have already started recovering. Cramer views the market’s reaction to Alphabet’s Google Cloud miss as “extreme” and expects the stock to bounce back.
While Tesla’s earnings missed estimates, Cramer acknowledges that the electric vehicle industry faced challenges overall. He remains optimistic about the Tesla brand and consumer demand.
Cramer commends Microsoft for its strong performance during the quarter, despite seeing a decline in stock value due to the overall market conditions affecting mega-cap tech stocks. As for Apple, Cramer believes its service stream is crucial for its future and advises investors to hold onto the stock instead of trading it.
Cramer concludes that sellers likely missed out on a buying opportunity and unintentionally created it themselves.
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Disclaimer: The CNBC Investing Club Charitable Trust holds shares of Apple, Nvidia, Microsoft, Meta, and Alphabet.
