Jim Cramer Agrees With Bank Of America's Prediction For S&P 500 To Hit 5K By 2024: 'But Other Than Sentiment Being Way Too Negative...'
Portfolio Pulse from Benzinga Neuro
Jim Cramer and Bank of America's strategist Savita Subramanian predict the S&P 500 could reach 5000 points by the end of 2024. Subramanian's forecast is based on historical performance rather than Federal Reserve rate cuts. Cramer agrees with the bullish sentiment but is non-committal on the specific drivers for this growth. He highlights the potential of the broader S&P 500, excluding the 'Magnificent Seven' tech stocks, if the FTC eases merger restrictions.
November 22, 2023 | 8:10 am
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NEUTRAL IMPACT
Apple Inc. is one of the 'Magnificent Seven' tech stocks that Cramer believes will not be the primary drivers of the S&P 500 reaching 5000 points by 2024.
While Apple is a significant component of the S&P 500, Cramer's focus on the broader market suggests a neutral short-term impact on AAPL's stock.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Amazon.com Inc. is part of the 'Magnificent Seven' tech stocks that Jim Cramer does not expect to be the key drivers in the S&P 500's growth to 5000 points by 2024.
As a significant S&P 500 component, Amazon's stock is not expected to have a major short-term impact based on Cramer's broader market growth perspective.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Alphabet Inc. is grouped with the 'Magnificent Seven' tech stocks that may not be the main contributors to the S&P 500's potential rise to 5000 points by 2024, according to Jim Cramer.
Alphabet Inc. is a major player in the S&P 500, but Cramer's emphasis on other stocks implies a neutral short-term impact on GOOGL's stock.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Meta Platforms Inc., included in the 'Magnificent Seven', is not seen by Jim Cramer as a primary mover for the S&P 500's potential climb to 5000 points by 2024.
Meta's stock may not see significant short-term movement based on Cramer's broader market outlook, suggesting a neutral impact.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Microsoft Corporation, part of the 'Magnificent Seven', is not anticipated by Jim Cramer to be a leading factor in the S&P 500 reaching 5000 points by 2024.
Microsoft's stock is likely to have a neutral short-term impact based on Cramer's prediction for the broader S&P 500 index.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Nvidia Corporation is among the 'Magnificent Seven' tech stocks that may not lead the S&P 500 to 5000 points by 2024, as per Jim Cramer's analysis.
Nvidia's stock might see a neutral short-term impact given Cramer's focus on the broader market rather than on specific tech giants.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Tesla Inc. is one of the 'Magnificent Seven' tech stocks that might not be the driving force behind the S&P 500's potential rise to 5000 points by 2024, as per Jim Cramer.
Tesla's stock is expected to have a neutral short-term impact in light of Cramer's focus on the broader market rather than specific tech leaders.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60