Cramer Picks Nvidia, Alphabet Over Other Mega-Cap Tech Stocks: 'Both Ready To Run'
Portfolio Pulse from Shanthi Rexaline
CNBC Mad Money host Jim Cramer has picked Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Nvidia Corp. (NASDAQ:NVDA) as his top mega-cap tech stocks, stating that both are ready to run. Alphabet's NFL Sunday Ticket deal and Nvidia's strong Q2 results and upbeat outlook are seen as key drivers. The Technology Select Sector SPDR Fund (NYSE:XLK) also rose 0.82% to $170.09.
August 29, 2023 | 6:35 am
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POSITIVE IMPACT
Alphabet's NFL Sunday Ticket deal is expected to significantly boost subscriber numbers, potentially driving the stock price up.
The NFL Sunday Ticket deal is a significant development for Alphabet, as it is expected to boost subscriber numbers. This could lead to increased revenues, which would likely have a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia's strong Q2 results and upbeat outlook are seen as positive indicators for the stock's performance.
Nvidia's strong Q2 results and positive outlook suggest that the company is performing well and is expected to continue doing so. This could lead to increased investor confidence, which would likely have a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Technology Select Sector SPDR Fund (XLK) rose 0.82% to $170.09, potentially indicating a positive trend for tech stocks.
The rise in the Technology Select Sector SPDR Fund (XLK) could indicate a positive trend for tech stocks. This could lead to increased investor interest in tech stocks, which would likely have a positive impact on their prices.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70