Jim Cramer · Intel · Wall Street · Amazon · CNBC Technology
Jim Cramer confirms the AI trade has shifted, and these stocks are leading now
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CNBC's Jim Cramer on Tuesday offered up a straightforward framework for Wall Street's current approach to the artificial intelligence trade.
Key facts
- The shift comes as the "Magnificent Seven" collectively shed roughly $2.3 trillion in market value during the month of June as investors questioned whether the group's enormous AI spending
- CNBC's Jim Cramer on Tuesday offered up a straightforward framework for Wall Street's current approach to the artificial intelligence trade
- Cramer's Charitable Trust, the portfolio run by CNBC's Investing Club, owns Intel shares
- While Cramer said the Club continues own six of the Mag 7 constituents, Tesla is the exception, he thinks the suppliers will continue to benefit as long as demand for AI infrastructure outpaces supply
Summary
"Wall Street's now rewarding tech companies with products in high demand and punishing their customers," the " Mad Money " host said. The shift comes as the "Magnificent Seven" collectively shed roughly $2.3 trillion in market value during the month of June as investors questioned whether the group's enormous AI spending will ultimately generate enough earnings and free cash flow to justify their decisions. The biggest spenders on AI data centers in the group are Amazon, Alphabet, Microsoft and Meta. "The biggest gainers are the exact opposite of the Magnificent Seven," he said.