CNBC's Jim Cramer opined Tuesday about the value of sticking with his 'Magnificent Seven' tech stocks.
"It's so aggravating to stand here and tell you to just stick with the 'Magnificent Seven' and friends," Cramer said, adding it's easier to talk about stocks when you're sure the price targets are going higher instead of lower.
"It's just so darned easy to bet on the 'Magnificent Seven,' because everything always seems to go right with them," Cramer said. "While the group might get hit because of the Nasdaq 100 rebalancing or a bizarre move in the bond market or even some terrible inflation number tomorrow morning, you know the analysts will come out of the woodwork and they have no shortage of reasons to recommend them.
Cramer also said investors should keep diversity in their portfolios but pointed out that some companies simply have better long-term value than others, especially when it comes to the effect of their products. He highlighted Nvidia, which is owned by CNBC's Charitable Trust, saying the company is consistently innovative. For example, Cramer said, one of Nvidia's models,, can predict high-impact weather models weeks in advance and is 45,000 times faster than current models.
"Now, I know that Nvidia's weather forecasting doesn't result in higher earnings per share, at least not anytime soon," Cramer said. "But what it gives you is the confidence to hold the stock during the inevitable downdrafts, because they simply play at a different higher level than any other company in the universe."at no cost to help you build long-term wealth and invest smarter.
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