Cramer says the money’s in tech this year, tread carefully when it comes to any other sector
CNBC’s Jim Cramer told investors on Tuesday to watch out for the losers, because there’s a lot of them this year. The safest spot for your money right now is tech -- otherwise, tread carefully.
“You stray, you lose,” Cramer said. “That’s the defining feature of this market, because if you stray from a small portion of the tech complex, you’re gonna be destroyed.”
The industries seeing losses on the market right now include energy, utilities, healthcare, real estate, consumer staples, materials, industrials and even banks, especially regional ones.
“It’s a who’s who of artificial intelligence and friends, a cornucopia of companies that benefit from extremely fast semiconductors, with just a small smattering of winners amid a host of losers,” Cramer said.
The healthcare is being slammed by government, according to Cramer, and companies like Moderna
and CVS $CVS Health(CVS.US$ are down in the wake of Covid. Real estate is being badly burned as remote work persists, with office building owners like Boston Propers $Boston Properties Inc(BXP.US$ tiesand Alexandria Real Estate $Alexandria Real Estate Equities Inc(ARE.US$ seeing huge losses. Industrial companies like government consultant Leidos
is down due to growing fears that the debt ceiling deal will mean slashes to the defense budget.
To Cramer, tech is only immune to this widespread turmoil because of the boon that is generative AI.
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