‘It’s so awful that I want to buy it’ – Jim Kramer likes these 2

‘It’s so awful that I want to buy it’ - Jim Kramer likes the name of these 2 beat-down technologies that are still posting white-hot revenue growth

‘It’s so awesome that I’d like to buy it’ – Jim Kramer names these 2 beat-down technologies that are still posting white-hot revenue growth

The market does not seem to be able to find a sediment.

The S&P 500 is down about 16% today, while the technology-focused Nasdaq is down 26% in the same time frame.

But CNBC’s Jim Kramer sees plenty of opportunities in the market downturn. In fact, Mad Money Host has recently released two stocks that she wants to buy right now.

Here’s a quick look at each of them.

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Apple (AAPL)

Kramer has been a fan of Apple for years.

He says he has been at the company ‘long’ since his daughter owned a blue and a pink iPod. And because of the recent drop in Apple’s share price – the tech giant has fallen 20% year on year – Kramer thinks it’s time to hit the buy button again.

“I want to buy it. I’ve upgraded to a charitable trust. It’s been down straight,” he said.

In a recent earnings conference call, Apple CEO Tim Cook said the company had not escaped a supply chain disruption. CFO Luca Maestri added that supply constraints – resulting in covid-related disruptions and silicon shortages – could affect sales from $ 4 billion to $ 8 billion.

That said, Kramer thinks the iPhone maker will be fine, citing his recent interview with Sanjay Mehrotra, CEO of Micron Technology.

“He said the phones were good,” Kramer recalled. “Hire and phone? Good. “

In the most recent quarter, iPhone sales grew 5.5% year on year to $ 50.6 billion, accounting for 52% of Apple’s total sales.

Nvidia (NVDA)

As a leading manufacturer of graphics cards, Nvidia shares have been in a bull run for the past decade. But that rally ended abruptly in November 2021. Since hitting a high of $ 346 in late November, the stock has fallen nearly 50%.

Nvidia’s immersion is sufficient compared to other beat-down stocks in the semiconductor sector. And Kramer took notice.

“Nvidia has been cut in half,” he told CNBC. “This is the worst chart I’ve ever seen. Honestly, it’s so scary that I want to buy it. “

Nvidia’s business is performing well, creating a particularly interesting contrast. The chipmaker generated $ 7.64 billion in revenue in the fourth quarter of its fiscal year. This amount not only represents a 53% increase in the year, but also a new quarterly record.

Gaming revenue – Nvidia’s largest segment – grew 36% year on year to a record 3.42 billion. Meanwhile, data center – the company’s second-largest segment – saw revenue grow 71% to a record 3.26 billion.

Nvidia will report Q1 FY23 results after the May 25 closing bell.

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