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Cramer says tech has a ‘well-deserved premium' because of stocks like Nvidia

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CNBC’s Jim Cramer on Tuesday reaffirmed his belief in the value of tech stocks.

A cover story he read in Money Magazine forty years ago about the value of tech stocks helped change his mind, Cramer saidon Tuesday reiterated his faith in tech stocks, especially Nvidia and its"Magnificent Seven" peers.

Cramer recognized that some investors question how tech shares could be worth so much money, especially when the stock is up. He has shared that skepticism, Cramer acknowledged, especially at the start of his career when similar doubts about the value of tech stocks were prevalent. A cover story he read in Money Magazine forty years ago about the value of tech stocks helped change his mind, Cramer said. A money manger wrote the article and suggested that tech would roar back after sell-offs. Cramer was initially doubtful of this theory until he saw it prove true, he said.

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