Prominent market commentator Jim Cramer reportedly said on Thursday it’s important to stick with the “Magnificent Seven” winning stocks, even if it feels tiresome to go with the big tech names in current times.
According to a CNBC report, the seven stocks that Cramer believes are “all-pro” include:
- Apple Inc AAPL
- Microsoft Corp MSFT
- NVIDIA Corporation NVDA
- Amazon.com, Inc. AMZN
- Meta Platforms Inc META
- Tesla Inc TSLA
- Alphabet Inc Class A GOOG GOOGL
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Some of these stocks have more than doubled this year. Nvidia shares have registered a whopping 177.82% returns on a year-to-date basis while Meta has gained 118.54% during the period. Tesla stock, too, has gained 91.97%.
“What are we supposed to do? Challenge all seven gunfighters? And somehow blast them to kingdom come?” Cramer questioned. “Bad idea — they deal in lead and you don’t want to be their competitor.”
Praises: The market expert asserted the success of these companies is no accident. Cramer pointed to Apple’s consistently high customer satisfaction rate while he highlighted Microsoft’s triumph in the face of the tech industry’s slowdown and its $10 billion on-the-money bet on ChatGPT.
He said Meta was right about artificial intelligence and so was Nvidia — securing an enormous supply of essential graphics cards that lifted its quarterly guidance by $4 billion, according to the report.
Cramer also praised Alphabet and noted that Tesla is witnessing high profits in the U.S., Europe and China by selling high-quality cars at a relatively low price. “Do you want to own the petrified villagers in the Dow, or would you rather stick with what’s winning — the Magnificent Seven?” Cramer asked.
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Image and article originally from www.benzinga.com. Read the original article here.