CNBC's Jim Cramer on Monday encouraged investors to stick with their own convictions when the market is turbulent or confusing. The market, he said, is currently tough, with the S&P 500 and the Nasdaq coming off three weeks of losses.
"This market's best buys come not immediately after the quarter, but when the wrongheaded sellers or buyers come in," Cramer said. "Don't respect their vision, respect your own. You're better off sticking with your own convictions."
He highlighted Palo Alto Networks, which saw its stock plummet after the cybersecurity company announced it would report earnings after the bell Friday, which can be a sign of a poor quarter. But Cramer said he had confidence in CEO Nikesh Arora and the company's performance. When Palo Alto Networks ended up reporting a solid quarter, its stock recovered from the drop and was up nearly 15% by Monday's close.
"I don't talk to many hedge funds, but oh boy I was overwhelmed with people urging me to come out here and tell you to give up on Palo Alto," Cramer said. "So many of them spoke with such confidence, yet in reality, they knew nothing."
Cramer mentioned several other companies he thinks are high performers even though their stocks have seen dips from recent highs, including Apple, Meta, GE HealthCare, Walmart, Microsoft and Nvidia.
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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Palo Alto Networks, Apple, Meta, GE HealthCare Technologies, Microsoft and Nvidia.
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