‘The strength away from tech is undeniable’

Breaking News

There are tons of stock winners outside tech, says Jim Cramer

CNBC’s Jim Cramer told investors on Monday the market is ripe with untapped potential.

“When you look underneath, this market’s not all that concentrated,” Cramer said. “We’ve got tons of winners outside tech which means it might be healthier than you think, even though we can still go down if we get some tough data tomorrow or if the Fed says something bad.”

While he’s by no means suggesting that viewers shed the “Magnificent Seven” tech top performers like Apple and Facebook parent Meta, he said he sees a broadening market that has space for other sectors to roar alongside Big Tech.

One sector that caught Cramer’s eye is homebuilding, especially Lennar, DR Horton and Pulte, which have all been making new highs despite Federal Reserve rate hikes that have hurt the industry as a whole. Cramer noted that even though the industry makes up only 10% of the economy, it historically “punches well above its weight.”

He’s also looking at industrials like Boeing and General Electric, as well as smaller players that may be poised to follow industry leaders like power management company Eaton or manufacturer Emerson, shares of which are owned by Cramer’s Charitable Trust.

“Much of the gains in this market are, indeed, in aggregate concentrated in a handful of huge tech companies. But that’s simply because those companies are so large. Big market cap. Their aggregated strength is masking all the positives that I’m talking about,” Cramer said.

Cramer warns against being fooled by those who advise against straying from tech giants, as well as stocks in general that are doing well in the moment, because you’ll never get to the winners early that way.

“Here’s the bottom line: The strength away from tech is undeniable,” Cramer said. “It’s time to open our eyes to what’s really happening rather than being blinded by the big-cap tech light.”

There's nothing narrow about current tech winners, says Jim Cramer on the stock market rally

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

Disclaimer: The CNBC Investing Club Charitable Trust holds shares of Apple, Meta and Emerson.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer TwitterFacebookInstagram

Questions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com

Original Post

Articles You May Like

Airbnb Rental Arbitrage 101
Autonomous-truck company TuSimple to wind down U.S. operations, slash jobs
Avis Budget Group announces special dividend of $10 per share
What happens if a husband leaves his IRA to someone other than his wife?
What Was It and How Can It Affect Future Movement? By U.Today

Leave a Reply

Your email address will not be published. Required fields are marked *