March 2, 2024

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Cramer Highlights Tech Stocks, Target News Says Inflation Has Peaked

Cramer Highlights Tech Stocks, Target News Says Inflation Has Peaked

CNBC’s Jim Kramer on Tuesday gave investors his blessing for considering buying plummeting tech stocks next targetingThe last quarter of the year indicated good news for Federal Reservefight inflation.

“The real green light here is on tech savvy. … they might deserve a bit of a rebound if they’ve had profits and total fun if they have buybacks and profits,” He said.

He added, “This is not an underground market. I don’t want you to think about it too much because sometimes it can be easy.”

Kramer’s comments come after Target said in its last quarter that it will need to dispose of its excess inventory, which in turn will constrain the company’s earnings.

The “mad money“Host, from The day before he advised investors To buy oil stocks only on dips, he said, the Target news suggests that inflation has peaked. This opens the door for investors to buy previously untouchable stocks in a high interest rate environment, he said.

existing Service nowAnd the from Broadcom And the sales force As more attractive names after the Target news, Cramer said he’s still far from the retail stock in the short term.

He also warned investors that this change in the market could go away as quickly as it came, due to the volatility of the economy.

“Of course, this market is so volatile that this whole movement could be reversed when we get the big CPI number at the end of the week. … That could drive up long-term interest rates again, putting this whole move on ice, ” He said.

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Disclosure: The Kramer Charitable Fund owns shares in Salesforce.