Monday, July 15, 2024

This Blog Will Show You About The New Advanced Innovation In Thailand

Thailand, the special night location for the...

Who Called Me 02045996873?

Presentation: In a world loaded up with computerized...

WhatsApp Number 0131 561 4532: Unmasking the Mystery

The conundrum of WhatsApp number 0131 561...

Cramer cites Nvidia for ‘well-deserved premium’ of tech stocks

BusinessCramer cites Nvidia for 'well-deserved premium' of tech stocks


CNBC’s Jim Cramer on Tuesday reiterated his faith in tech stocks, especially Nvidia and its “Magnificent Seven” peers.

Cramer recognized that some investors question how tech shares could be worth so much money, especially when the stock is up. He has shared that skepticism, Cramer acknowledged, especially at the start of his career when similar doubts about the value of tech stocks were prevalent.

A cover story he read in Money Magazine forty years ago about the value of tech stocks helped change his mind, Cramer said. A money manger wrote the article and suggested that tech would roar back after sell-offs. Cramer was initially doubtful of this theory until he saw it prove true, he said.

According to Cramer, this shift in mindset led him to bring Microsoft to Goldman Sachs as well as other tech stocks he considered winners, like Apple and Nvidia.

“Tech has a well-deserved premium because of stocks like Nvidia,” he said. “Sure, you can sell the stock here. Maybe you’ll even look like a genius if it sells off tomorrow when it reports. But people doubted Microsoft every step of the way, too. They thought it was ridiculously overvalued and couldn’t justify paying up. That’s how they missed one of the best runs in history.”

Today we see the same thing as 40 years ago, tech with a monster P/E premium, says Jim Cramer

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 Nvidia, Apple and Microsoft.

See also  Russia downs 20 drones over Crimea following a spate of attacks on Moscow

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? [email protected]


Source link

Check out our other content

Check out other tags:

Most Popular Articles