CNBC’s Jim Cramer told investors on Tuesday that some stocks have fallen too far from their highs and are bound to rise.
“While they could continue to lose, the bottom line is that they’ve fallen so deep that I think they’ve become a metaphor for a bunch of stocks that are now poised to rebound because they have nowhere left to go. any other to come up, “the”Crazy money‘ said the presenter.
Calling some tech giants “giant losers,” Cramer correctly identified AmazonFacebook-parent Meta . Platform and Google-parent Alphabet – the three members of his now-discarded FAANG acronym – are the names that will be reinstated. Other FAANG companies include Apple and Netflix.
Here’s why Cramer believes the three ‘losers’ will rally:
Amazon
Cramer says he believes the company can increase the value of its stock if it consumes warehouses and workers, takes a more aggressive approach to retail advertising, and keeps its Amazon Web Services company. strong activity.
“Amazon is a company that could make $82 a share in 2024. Now, before you laugh about me using the 2024 estimate, remember that 2022 is almost halfway over.” he said.
Meta . Platform
Cramer says he believes in Zuckerberg’s vision for the metaverse, noting that other leaders, including Nvidia CEO Jensen Huang, is also betting big on it.
Alphabet
Note that Google is the “best way to advertise”, Cramer says the company is protected from being pulled down as other tech companies like Snap not working well.
Disclosure: Cramer .’s Charitable Foundation in debtns shares of Alphabet, Amazon, Apple, Meta and Nvidia.
