×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: jim cramer | tech | stocks

Jim Cramer's 5 Favorite Tech Stocks Right Now

(Aronbrand/Dreamstime)

By    |   Saturday, 20 October 2018 10:53 AM EDT

Investment guru Jim Cramer has shared his top five favorite tech stocks.

The "Mad Money" host told CNBC that he decided to continue his "power rankings" of stocks with the most investment potential in each sector with the information technology space, the single largest sector in the S&P 500.

"On the one hand, tech's still the second-best-performing sector in the market right now, right behind health care," Cramer said. "On the other hand, it's been annihilated over the past few weeks."

His top "power" players in the information technology space are:

  1. Apple (AAPL)
  2. Salesforce (CRM)
  3. Microsoft (MSFT)
  4. MasterCard (MA)
  5. Adobe (ADBE)

In a volatile market, Cramer thinks investors must remain diversified no matter how painful some sectors might seem at the moment, CNBC.com explained.

"Even in this brutal market, it pays to stay diversified, which is why you should own some tech here despite the fact that the group feels like a punching bag," he said.

To be sure, Reuters explains that the pressure is on for tech stocks such as Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street’s rally.

“The equity market is at a critical point here,” said Kurt Brunner, portfolio manager, Swarthmore Group in Philadelphia, Pennsylvania. “In order for it not to get a lot worse, I think you need to see Amazon and Alphabet put up some good numbers.”

Powerful rallies by Facebook, Amazon, Alphabet, Apple, Microsoft and Netflix in recent years have made them must-own stocks for portfolio managers, making their ownership so widespread that they are at risk of a major sell-off should a majority of investors’ views about them change for the worse.

“So many funds are invested in the same stocks. They got less crowded in the past week, but at this point it’s difficult to say if we are going to shrug everything off and go to new highs a month from now, or if we’re going to test more lows,” warned Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas.

© 2024 Newsmax Finance. All rights reserved.


StreetTalk
Investment guru Jim Cramer has shared his top five favorite tech stocks.
jim cramer, tech, stocks
355
2018-53-20
Saturday, 20 October 2018 10:53 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved