Cramer says investors using Covid stimulus checks on stocks should buy Google-parent Alphabet

Published Mon, Mar 22 20211:16 PM EDTUpdated Mon, Mar 22 20212:22 PM EDT

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

Investors who plan to put a portion of their latest Covid stimulus checks into the stock market should buy shares of Google-parent Alphabet , CNBC's Jim Cramer said Monday. Cramer made the suggestion on "Squawk on the Street" while analyzing the valuations of Big Tech companies including Apple and Facebook . "I do think Apple's down a lot, but not down enough," the "Mad Money" host said. "It's too early to buy some of these stocks, but they are getting very low compared to where they were." In a powerful tech stock bounce Monday, Alphabet and Apple were stronger. As of Friday's close, Apple was roughly 9.5% lower in 2021, while Alphabet was up more than 15% this year. In the past 12 months, they saw similar strong gains, with Apple rising more than 95% and Alphabet gaining 82%. "I think they should be buying Alphabet because Alphabet actually has earnings momentum," Cramer said. Wall Street is expecting to see a bump in activity from retail investors who received stimulus checks as part of the $1.9 trillion pandemic relief package signed into law earlier this month by President Joe Biden . In an online survey, Deutsche Bank said half of the respondents ages 25 to 34 who use online brokerage platforms indicated they intended to spend 50% of their direct payments on equities. Some evidence has emerged that seems to support those findings. On Friday, Webull CEO Anthony Denier told CNBC the brokerage app has seen "an uptick in deposits for sure" in recent days after tens of millions of Americans already received the stimulus funds . "It remains to be seen how that kind of plays, but it certainly has risen the tide for all ships in the brokerage industry. Absolutely," Denier said on "Closing Bell." Cramer's positive comments on Alphabet come a week after he offered "Mad Money" viewers a longer list of stocks to buy with portions of their direct payments once they have paid off bills and addressed other areas of need. For investors willing to take more risk, he pointed to PayPal , Moderna and Tesla , among others. For those who preferred less risk, Cramer's list of stocks included JPMorgan , Microsoft and Johnson & Johnson . Disclosure: Cramer's charitable trust owns shares of Alphabet, Facebook, Apple, JPMorgan and Microsoft. Disclaimer

American multinational technology company Google logo seen at Googleplex, the corporate headquarters complex of Google and its parent company Alphabet Inc.

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Investors who plan to put a portion of their latest Covid stimulus checks into the stock market should buy shares of Google-parent Alphabet, CNBC's Jim Cramer said Monday.

Cramer made the suggestion on "Squawk on the Street" while analyzing the valuations of Big Tech companies including Apple and Facebook.

"I do think Apple's down a lot, but not down enough," the "Mad Money" host said. "It's too early to buy some of these stocks, but they are getting very low compared to where they were."