Jim Cramer says he’s sticking with the Magnificent Seven despite weak 2026 returns
2026-07-10 05:02:08
According to CNBC, Jim Cramer said Thursday he is sticking with the “Magnificent Seven” megacap tech stocks despite their lackluster performance in 2026, arguing the group is being unfairly compared despite different businesses and AI strategies. He pointed to a Reuters report that Meta plans to begin manufacturing its own AI chip later this year, and said investors initially disliked the news because it suggested capital expenditures may not slow soon; he also cited reports that Meta is working on a business to sell compute capacity. Cramer also said investors are overly focused on Alphabet’s AI spending and chatbot competition while overlooking assets such as YouTube and Waymo, and he argued the group could rally together if even one company raises forecasts or shows AI has become a meaningful profit driver.
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