TSLA - Jim Cramer Tells Investors To 'Wait..For Sell-Off' As Buyers Temporarily Move Away From Magnificent Seven: 'Then Do Some Buying' | Benzinga
CNBC’s Jim Cramer recently shared his market predictions for 2024, suggesting a possible sector rotation and significant influence from Federal Reserve decisions.
What Happened: Cramer on Tuesday predicted that investors might move away from the leading Magnificent Seven tech stocks to invest in sectors that have experienced significant declines, like the food and pharmaceutical industries, reported CNBC.
Cramer stated, “My crystal ball suggests that profits will be taken from the best of the best, including the Magnificent Seven and friends, as well as the richly valued software enterprise names. I think investors will use that cash to invest in companies that haven’t gotten any respect for ages.”
Cramer warned that this shift might be temporary, with investors potentially returning to their December favorites once earnings reports are released.
Cramer believes that the Federal Reserve’s decisions will greatly impact Wall Street activity. He suggests investors should choose stocks from companies with strong leadership and reasonable valuations instead of ...