Jim Cramer · Microsoft · Semiconductor · Claude · CNBC Technology
Cramer confirms these stocks can keep climbing
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
CNBC's Jim Cramer said Thursday that enterprise software's comeback was the defining stock market story of the third quarter.
Key facts
- The iShares Expanded Tech-Software Sector ETF (IGV) rose 17% during the quarter, compared with an 11% decline for the iShares Semiconductor ETF (SO)
- Workday and Veeva also rallied 55% and 60%, respectively, as fears of AI disruption eased
- Cramer's Charitable Trust, the portfolio run by CNBC's Investing Club, owns shares of CRM, MSFT, and CRWD
- Salesforce rallied 46% during the quarter as investors grew more confident that AI could be a growth driver rather than a threat to its business
Summary
The major averages posted modest gains in the third quarter, which ended Wednesday, but there were much bigger moves beneath the surface as market leadership shifted. "Ultimately, I think we'll remember the third quarter as the moment when software bounced back and some amazing data center plays succumbed to profit taking," the " Mad Money " host said. Salesforce rallied 46% during the quarter as investors grew more confident that AI could be a growth driver rather than a threat to its business. He's similarly bullish on Microsoft, which gained 37% during the quarter.