Cramer: The market will be in better shape if there is a decent rally in tech sector stocks.
The key to a more powerful rally will come if we get "old tech" stocks to rally alongside "new tech" stocks, he added. He pointed to the positive coverage on Microsoft from the analysts at Cowen. They also upgraded Western Digital to outperform from market perform and assigned a $50 price target. The company has an important investor meeting Thursday, Cramer noted.
Cramer reminded investors how well Applied Materials did in its most recent earnings and in China. There's a lot of good news in tech, so let's see if it "percolates," Cramer said.
Keep an eye on old tech stocks, along with the FANG stocks --Facebook, Amazon, Netflix and the former Google, now Alphabet, Cramer concluded.
The Street...
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.