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Home›Mark Zuckerberg›Cramer sees opportunity to buy tech giants Apple, Amazon and Salesforce

Cramer sees opportunity to buy tech giants Apple, Amazon and Salesforce

By Shirley J. Speights
September 27, 2021
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CNBC’s Jim Cramer said on Monday that he believes long-term investors should be willing to buy shares in Amazon, Apple and Salesforce as tech companies face pressure from rising prices. bond yields.

However, the host of “Mad Money” said that there is currently one tech giant he is less confident in: Facebook.

“Right now, Facebook is selling 25 times the profit – it’s cheap – because people are worried that advertisers will abandon them,” Cramer said, noting that Facebook had just announced that it had decided to suspend work on developing a version of Instagram for children. The move comes shortly after a series of recent Wall Street Journal articles that Facebook has repeatedly found its Instagram to be harmful to some teens.

“Compare that to Apple, Salesforce, or Amazon – no one is afraid of losing tons of customers because they really are the best. That’s why I think taking them out is definitely a buying opportunity,” said Cramer, following a session in which all three companies closed in the red.

“You can buy these stocks when they’re going down because you know management will figure it out. Amazon will automate,” he said. “Apple will find a way to build all the phones it needs. [Salesforce CEO Marc] Benioff will buy all the businesses Salesforce needs to stay competitive, just like he did with Slack. ”

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Although Cramer’s charitable investment trust currently owns Facebook, he said he believes the potential for the social media company to be considered a “best of the breed” right now “is at stake.” The business can’t just be a revenue heavyweight, Cramer said. He must also make a real commitment to being a “single source of truth on the web,” he argued.

“I am indeed convinced that CEO Mark Zuckerberg can pivot, even though he thinks he’s doing everything in his power to secure his site. It’s not up to him, however. He has to find a way. to solve the credibility problem, otherwise Facebook will also become a group, ”Cramer said.

Cramer said he believes Zuckerberg “can be successful,” but the company won’t be in the same league as Apple or Amazon until that happens.

“As technology is affected by this rotation, you have to remember that the best companies don’t just disappear. If you’re there for the long haul, these stocks are worth buying on the downside,” Cramer said. .

Disclosure: Cramer’s charitable trust owns shares of Apple, Amazon, Salesforce and Facebook.


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