CNBC’s Jim Kramer said Wednesday that he sees several attractive tech stocks after a hard start to 2022 for a broad cohort, and suggested that investors take advantage of the weakness.
The high-tech Nasdaq Composite fell roughly 3.5% in 2022 in just three trading days and, as the Mad Money presenter put it, “you’ll have to choose among the wreckage when he does it.”
Kramer suggested considering the following stocks: enterprise software giant Salesforce, parent company Facebook Meta Platforms, cybersecurity firm Palo Alto Networks, and chipmaker Nvidia. All four stocks are in negative territory in 2022, well below their respective all-time highs, Kramer said.
“I always hear from people complaining that … they bought these high quality tech stocks when they flew. You definitely won’t buy them at a high price today if you bought them, much less tomorrow if we come back again, ”Kramer said.
“Although they may suffer again tomorrow, you must choose your place here. You can’t act like it’s their first day on the job, ”he added.
Kramer stressed that he discouraged investors from buying loss-making tech companies that trade on a price-to-sales basis. He advised viewers to avoid such stocks for several weeks, and instead championed companies with “real profits.”
“I am increasingly attracted to the lucrative tech companies that have just been beheaded. Price matters to me, ”Kramer said.
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Disclosure: Cramer’s Charitable Foundation owns stock in Nvidia, Salesforce, and Meta Platforms.