Buy these best-of-breed tech stocks first as Nasdaq gets hit
The tech-heavy index has fallen 1.76% through the first two trading days, compared with the Dow Jones Industrial Average’s gain of 0.6% and the broad S&P 500’s modest 0.15% decline.
The “Mad Money”He has stated that he is the host sees this rotation out of technology stocksIt is mostly due to investors taking profit in winning positions and using profits in markets that are slowing down.
Cramer stated Tuesday that it will not last forever and pointed viewers to a group of tech stocks he thinks will become the bottom. This group is known as the “red hots” because it offers the most opportunities for purchasing in this industry.
“These companies did nothing wrong. … “They reported higher-than-expected top and bottom results, predicted greater growth, but their stocks are still being crushed this week,” Cramer stated, ticking off these firms: Alphabet, Microsoft, Cloudflare, Palo Alto Networks, Roblox, AMD Nvidia.
“They’re all doing extraordinary. “These are the names that you should buy first, I will not mince words,” said the ex-hedge fund manager. The best stocks of all breeds tend to fall before the rest.
Cramer stated that his calling is grounded in his analysis of tech-led sales over his nearly 40-year-long experience on Wall Street.
Cramer explained that “amazingly almost every time high-multiple stocks are sold off, the falls last… 3 days and then they flatline, before powering up again as if there was nothing but a shake-out and recharge.”
It’s difficult with Thanksgiving,” he said. He was referring to U.S. stocks being closed on Thursday due to Thanksgiving. However, “these high-flyers should be getting bottoms in by Friday.”
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