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With retail companies reporting consumer weakness, Cramer says stick with tech

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CNBC's Jim Cramer on Wednesday discussed Wall Street's attitude towards consumer-focused companies.

on Wednesday discussed Wall Street's attitude toward consumer-focused companies, saying that consumer weakness has sent the stock of many companies shooting down.

"When the consumer's tapped out, or at least more frugal than she used to be, money managers don't wait around: They flee like rats from a sinking ship and park their money in a more reliable industry," Cramer said. "Right now, that's enterprise hardware and software, which are suddenly on fire again."

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