Jim Cramer looks at tech stocks to own in A.I., the metaverse, electric vehicles and fintech
CNBC's Jim Cramer talked about the four major innovations and the companies that justify tech's dominance on Wall Street. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://www.cnbc.com/investingclub/
CNBC’s Jim Cramer bought “Mad Money” back to San Francisco for the first time in two years and talked about the four major innovations and the companies that justify tech as a leader in the stock market.
1. ‘Using artificial intelligence to replace humans’
Cramer said the first innovation that’s driving value is “how businesses are using artificial intelligence to replace humans, especially because workers are so hard to find now that we’re living through the Great Resignation” in the time of Covid. He pointed out that a record-high 4.43 million people quit their jobs in September.
“When you think of artificial intelligence, you have to start with Nvidia. Everybody views this one as a semiconductor company, but it’s really platform for machine learning,” Cramer said. “Then there’s conversational artificial intelligence that lets computers come across like actual people. That’s Five9, the call center software play.”
2. ‘The metaverse’
Cramer said that most people think of Facebook changing its name to Meta Platforms when they think about the metaverse. However, the “Mad Money” host offered other names such as Unity Software, which makes the tools needed to develop video games and metaverse experiences.
“Who gets to the metaverse first? My money’s on Roblox, the popular online gaming platform that makes it easy for users to create their own digital experiences,” Cramer said.
3. ‘Electric vehicles’
While pointing to Rivian shares ripping higher since last week’s IPO, Cramer said Lucid Group is one to watch. “The luxury performance electric vehicle maker … just won MotorTrend’s car of the year award,” he added. “Who doesn’t want to be the next Tesla?”
4. ‘Financial technology’
Fintech, for short, is becoming a Silicon Valley obsession, Cramer said. “On the West Coast, they’re more into engineering than financial engineering.”
He cited buy now, pay later company Affirm and its CEO Max Levchin, who’s “trying to cut the credit card companies out of the consumer lending equation because they’ve now kept generations trapped in their financial chains.” Levchin was a co-founder of PayPal.
“You want a real revolutionary take on banking, you need to talk to the people who run Square,” Cramer said.
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CNBC’s Jim Cramer talked about the four major innovations and the companies that justify tech’s dominance on Wall Street. Sign up and learn more about the CNBC Investing Club with Jim Cramer https://www.cnbc.com/investingclub/
CNBC’s Jim Cramer bought “Mad Money” back to San Francisco for the first time in two years and talked about the four major innovations and the companies that justify tech as a leader in the stock market.
1. ‘Using artificial intelligence to replace humans’
Cramer said the first innovation that’s driving value is “how businesses are using artificial intelligence to replace humans, especially because workers are so hard to find now that we’re living through the Great Resignation” in the time of Covid. He pointed out that a record-high 4.43 million people quit their jobs in September.
“When you think of artificial intelligence, you have to start with Nvidia. Everybody views this one as a semiconductor company, but it’s really platform for machine learning,” Cramer said. “Then there’s conversational artificial intelligence that lets computers come across like actual people. That’s Five9, the call center software play.”
2. ‘The metaverse’
Cramer said that most people think of Facebook changing its name to Meta Platforms when they think about the metaverse. However, the “Mad Money” host offered other names such as Unity Software, which makes the tools needed to develop video games and metaverse experiences.
“Who gets to the metaverse first? My money’s on Roblox, the popular online gaming platform that makes it easy for users to create their own digital experiences,” Cramer said.
3. ‘Electric vehicles’
While pointing to Rivian shares ripping higher since last week’s IPO, Cramer said Lucid Group is one to watch. “The luxury performance electric vehicle maker … just won MotorTrend’s car of the year award,” he added. “Who doesn’t want to be the next Tesla?”
4. ‘Financial technology’
Fintech, for short, is becoming a Silicon Valley obsession, Cramer said. “On the West Coast, they’re more into engineering than financial engineering.”
He cited buy now, pay later company Affirm and its CEO Max Levchin, who’s “trying to cut the credit card companies out of the consumer lending equation because they’ve now kept generations trapped in their financial chains.” Levchin was a co-founder of PayPal.
“You want a real revolutionary take on banking, you need to talk to the people who run Square,” Cramer said.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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Get the latest news: http://www.cnbc.com/
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