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Jim Cramer Says Investors Should Look Beyond Apple, Meta And Other Magnificent 7 Stocks: 'You Might Be Missing Out On Some Huge Gains'

Benzinga Neuro
February 08, 2024

Jim Cramer, the host of CNBC’s “Mad Money,” has suggested that investors should look beyond the Magnificent Seven tech stocks for potential high-yield investments.

What Happened: On Thursday, Cramer acknowledged the significant influence of megacap tech companies, including Apple Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), NVIDIA Corp (NASDAQ:NVDA), and Tesla Inc (NASDAQ:TSLA), on the market but also pointed out other stocks that could offer substantial returns, reported CNBC.

"I do not want to denigrate anything that can give you a sizable, risk-free return, which is what you're getting," Cramer said of CDs. "But can we at least admit that you might be missing out on some huge gains if you just steer clear of the stock market?"

See Also: Tesla Investors Pledge Support For Elon Musk, His 25% Ownership Goal: Shareholder Letter Calls For Tesla

Cramer highlighted several stocks that have seen a rise of 10% or more since the previous Tuesday. These included XPO Inc (NYSE:XPO), a trucking company that capitalized on a competitor’s bankruptcy and increased cargo per truck, and Monolithic Power Systems Inc (NASDAQ:MPWR), a chip company involved in AI that saw a surge after a strong quarter.

He also mentioned Advanced Drainage Systems Inc (NYSE:WMS), an infrastructure company, and Regenxbio Inc (NASDAQ:RGNX), a drug company that recently revealed a potential treatment for Duchenne Muscular Dystrophy.

“We didn’t get to these new highs just through the megacaps, we got here thanks to moves like we’ve had since just last Tuesday,” Cramer said.

“All of this might be happening because the market remains a scorned animal, a lowly skunk in a 5% CD block party. All I ask is that at least you consider participating in stocks.”

Why It Matters: Cramer’s advice comes in the wake of his previous insights into the market. He recently urged investors to make room for stocks before potential Fed rate cuts, emphasizing the opportunity for gains in the interim. He also advised investors to capitalize on market anomalies for profitable investments, noting the market’s unconventional behavior over the past two years.

Earlier in January, Cramer also suggested the possibility of Tesla Inc (NASDAQ:TSLA) being replaced by Eli Lilly and Co (NYSE:LLY) in the Magnificent Seven list of mega-cap stocks, indicating his belief in the potential of other companies to provide significant returns.

Read Next: Happy 20, Facebook: If You Invested $1,000 In Mark Zuckerberg’s Social Network When It Went Public 12 Years Ago, Here’s How Much You’d Have

Image Via Shutterstock


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