Cramer greenlights beaten-down tech stocks, says Target's inventory woes suggest inflation is peaking - 09 iunie 2022
The “Mad Money” host, who the day before advised investors to buy the dip only on oil stocks, said that Target’s (US.TGT) news suggests that inflation is peaking. This opens up the door for investors to buy stocks that were previously untouchable in a high interest rate environment, he said.
Listing ServiceNow (US.NOW), Broadcom (US.AVGOF) and Salesforce (US.CRM) as names that are more attractive after Target’s news, Cramer said he’s still staying away from retail stocks short-term.
He also warned investors that this change in the market could go away as fast as it came, due to the economy’s volatility.