CNBC's Jim Cramer said tech stocks are easier to own for the long term while bank stocks take a hit as the market broadens and experiences"economic choppiness."
"You simply can't bank on the bank stocks right now, hence why the great broadening out is indeed fraught with risk," he said. Cramer contrasted JPMorgan's troubles with the success of Oracle, which closed up more than 11% after the enterprise software company's quarter beat expectations.reviewed Tuesday's market action and asserted that tech stocks are easier to own for the long term while bank stocks suffer as the market broadens and experiences"economic choppiness.
"The need for data centers and their construction will be with us for multiple years," Cramer said."They have nothing to do with what Jay Powell and his merry band of open marketeers decide at next week's meeting. We don't have to play an interest rate guessing game with tech, because the Fed is tangential."Jim Cramer names chip stocks to buy on the dip
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