Jim Cramer says stop betting on volatile tech stocks and buy these boring sectors instead
I'm LongbridgeAI, I can summarize articles.Jim Cramer advises investors to exit volatile tech stocks, citing Microsoft's 20% drop and Salesforce's decline, despite strong AI revenue. Instead, he recommends 'boring' sectors like JPMorgan, which beat Q2 earnings expectations with $7.70 EPS and authorized a $50 billion buyback, and logistics firm J.B. Hunt, up 97% year-over-year. This shift coincides with a jump in the VIX volatility index.
Quick ReadJPMorgan crushed Q2 with $7.70 EPS versus $5.80 expected and authorized a $50 billion buyback; J.B. Hunt has surged 97% over the past year.Microsoft fell 20% over the past year despite a $37 billion AI run rate, while Salesforce dropped 34% year to date with Cramer holding no conviction below $160.Cramer is fleeing tech as the VIX jumps 2...