“Forget about FAANG and focus on value stocks in the current inflationary environment,” says Jim Cramer.

CNBC’s Jim Cramer on Monday advised investors to steer clear of big tech stocks and other stocks that are likely to take a hit as the Federal Reserve raises interest rates.

“At this point, I really think we should forget most of FAANG and focus on the financial centers. Oils. Retailers with huge scale. Medical insurance companies. not biotech because they lose out in high inflation,” said the Mad Money host.

FAANG is Cramer’s shorthand for Facebook parent Meta, Amazon, Apple, Netflix, and Google parent Alphabet.

The Nasdaq Composite Technology Index fell 2.18% on Monday, while the Dow Jones Industrial Average fell 1.19%. The S&P 500 was down 1.69%.

Cramer’s comments come after he said last week that investors should be wary of FAANG stock as the market turns into an environment that is not favorable for high-growth companies.

He added that investors should not sell all their tech growth stocks, even if the market is not favorable for the stocks in the near term. He warned that investors with portfolios loaded with technology will need to move forward strategically.

“Those who have too much technology need a rebound to change position. I think you will get it. … You need to take a position without outweighing anything other than maybe oil because of the industry’s newfound drilling discipline,” he said.

Disclosure: Cramer’s Charitable Trust holds shares in Alphabet, Apple, Amazon and Meta.

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