| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Jim Cramer, the host of CNBC’s “Mad Money,” has advised investors to consider buying the ‘Mag 7’ stocks when interest rates rise and to buy everything when rates fall.
What Happened: Cramer emphasized that the market shows resilience when oversold. He wrote on X, “As @jeffmarkscnbc and i were just saying, we are back to a rates up buy Mag 7, rates down buy everything world. When we get oversold the market will be more sparing.”
Cramer’s discussion with CNBC’s Jeff Mark highlights their approach to navigating market fluctuations based on interest rate movements. The “Mag 7” refers to a group of high-performing tech stocks.
The Magnificent Seven stocks are a group of mega-cap tech stocks, which include Apple Inc. (NASDAQ:AAPL), Amazon.com Inc. (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:META), NVIDIA Corp (NASDAQ:NVDA), Tesla Inc. (NASDAQ:TSLA), Microsoft Corp. (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG).
Why It Matters: The tech sector, a major driver of the stock market's recent gains, has been downgraded by Truist's Chief Strategist and CIO, Keith Lerner. This move comes amid overvaluation concerns and a subsequent recommendation to invest in alternative sectors. Lerner recently downgraded the tech sector from overweight to neutral, citing concerns over its current valuation.
In January, Cramer suggested removing Tesla from the “Magnificent Seven” and coined a new name for the group of mega-cap tech stocks.
Wedbush analyst Dan Ives recently predicted a 15% surge in tech stocks in the second half of 2024, driven by expanding AI use cases. Ives believes the tech bull market has longevity, suggesting that the current AI boom is far from over.
Moreover, the era of the Magnificent Seven in the stock market, a term coined for a group of mega-cap giants, might be coming to an end, according to Mike O'Rourke, the chief market strategist at Jones Trading who popularized the label.
Read Next: The Rise And Fall Of Pioneering Weed Markets: RIP California And Colorado Cannabis Industries
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
