- CNBC's Jim Cramer said on Thursday that investors should keep their money in this year's market winners, primarily tech giants who bet on generative AI.
- Cramer named these "Magnificent Seven" stocks as ones to keep an eye on: Apple, Microsoft, Nvidia, Amazon, Meta, Tesla and Alphabet.
Sick of hearing about the soaring highs of the market's tech giants? CNBC's Jim Cramer is too, but he told investors on Thursday it's important to stick with these "Magnificent Seven" winning stocks, even if it feels a little tiresome.
Referencing the eponymous 1960 Western — in which a group of seven gunfighters tries to save a village from bandits — Cramer pointed out the seven best stocks that he thinks are guaranteed winners, managing to come out on top despite the torrential upsets in the market this year.
"What are we supposed to do? Challenge all seven gunfighters? And somehow blast them to kingdom come?" Cramer asked. "Bad idea — they deal in lead and you don't want to be their competitor."
Cramer stressed that their success is no accident. He pointed to Apple's consistently high customer satisfaction rate, Microsoft's triumph in the face of the tech industry's slowdown as well as its $10 billion on-the-money bet on ChatGPT. Facebook parent Meta was right about artificial intelligence, he continued, and Nvidia, too — securing an enormous supply of essential graphics cards that boosted its quarterly guidance by $4 billion.
Google parent Alphabet is also in the AI game, he said, and Tesla is seeing high profits in the U.S., Europe and China by selling high-quality cars at a relatively low price.
"Do you want to own the petrified villagers in the Dow, or would you rather stick with what's winning — the Magnificent Seven?" Cramer said. "Remember, you don't want to wait for the villagers to turn things around, but you bet on the actual gunfighters."
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple, Amazon, Nvidia, Alphabet, Meta and Microsoft.