CNBC’s Jim Cramer on Friday named four stocks he thinks could make a comeback this year.
To come up with his picks, he analyzed last year’s worst-performing stocks listed on the Nasdaq 100.
“Among the Nasdaq’s biggest losers, Qualcomm, Lam Research, Micron and Airbnb are going to do well this year, not necessarily in the first half of the year,” he said, adding, “And let’s not forget Illumina.” added.
Here are his thoughts on each stock.
- Cramer said Wall Street expects semiconductor companies to start losing iPhone orders in 2024, but the company may be able to keep at least some of those orders. The company’s foray into the auto market should also boost the stock, he added.
- He admitted that the near future could be ugly for chipmakers. but, “After this next bad quarter, we can’t afford to wait too long. Lam’s stock will hit bottom a few months before business starts.
- He advised investors to wait a few months before buying Micron stock, but do so before the chip glut ends. “Once there is any indication of bottoming out, this is going to bounce back like crazy – it always does,” he said.
- Cramer said the company should continue to be profitable this year, thanks to the current travel boom. Investors interested in stocks should buy gradually in the middle of the decline, he added.
- He said the company was “great” but would rather own a stake Danaher From Illumina.
Disclaimer: Cramer’s Charitable Trust owns shares of Qualcomm and Danaher.