- CNBC’s Jim Cramer said Wednesday he sees a handful of attractively priced technology stocks following a rough start to 2022.
- “You have to pick among the rubble” after the Nasdaq’s 3.5% year-to-date decline, the “Mad Money” host said.
- Cramer suggested investors look to Salesforce, Meta Platforms, Nvidia and Palo Alto Networks.
CNBC’s Jim Cramer said Wednesday he sees a handful of attractively priced technology stocks following a rough start to 2022 for the broad cohort and suggested investors look to take advantage of the weakness.
The tech-heavy Nasdaq Composite is down about 3.5% for 2022 after just three trading days, and “you have to pick among the rubble when it does that,” the “Mad Money” host said.
Cramer offered up the following stocks to consider: Enterprise software giant Salesforce, Facebook-parent Meta Platforms, cybersecurity firm Palo Alto Networks and chipmaker Nvidia. All four stocks are in the red for 2022 and notably down from their respective all-time highs, Cramer said.
“I always hear from people complaining that … they bought these high-quality tech stocks when they were flying. You’re certainly not buying them at the high today if you bought them, certainly not tomorrow if we go again,” Cramer said.
“Even though they might be clobbered again tomorrow, you’ve got to pick your spot here. You can’t act as if this was their first day down,” he added.
Cramer stressed that he was not encouraging investors to look at buying unprofitable technology companies that trade on price-to-sales ratios. He’s been advising viewers to avoid those types of stocks for weeks, while instead championing companies with “real earnings.”
“I’m getting more enticed by the profitable tech names that just got beheaded. Price does matter to me,” Cramer said.
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Disclosure: Cramer’s charitable trust owns shares of Nvidia, Salesforce and Meta Platforms.
Source: Business - cnbc.com
