Cramer Urges Buying Beaten-Down Tech Stocks as Nasdaq Drops 1.4%
Updated
Updated · CNBC · Oct 29
Cramer Urges Buying Beaten-Down Tech Stocks as Nasdaq Drops 1.4%
2 articles · Updated · CNBC · Oct 29
Summary
A 1.4% Nasdaq slide on Thursday created buying opportunities in tech, Jim Cramer said, arguing investors are wrongly dumping strong companies after weaker peers disappoint.
Fortinet's weak quarter hit Palo Alto Networks and CrowdStrike, but Cramer said Fortinet's market-share losses are company-specific and do not signal softer cybersecurity demand.
ServiceNow's earnings miss also weighed on Workday and Salesforce, while Alphabet's results dragged on Microsoft and Samsung's cautious outlook pressured Micron despite stronger high-bandwidth-memory demand.
Cramer said those short-term 'guilt-by-association' selloffs often reverse when investors focus on what each company actually does rather than treating one bad report as an industry verdict.