CNBC’s Jim Cramer on Friday named four stocks he believes could stage a comeback this year.
To come up with their picks, they analyzed the past year’s worst-performing stocks listed on the Nasdaq 100.
“Among the Nasdaq’s biggest losers, I think Qualcomm, Lamm Research, Micron and Airbnb will do well this year, though not necessarily the first half,” he said, “and don’t forget Illumina.”
Here are his thoughts on each stock:
- Cramer said that given Wall Street expects the semiconductor company to start losing iPhone orders in 2024, it’s possible the company could hold onto at least some of those orders. He added that the company’s push in the auto market should also help the stock.
- He acknowledged that the near future could be ugly for chip makers. Although, “You can’t wait too long after the next bad quarter, because Lam’s stock will be down months before it starts trading,” he said.
- He advised investors to wait several months to buy Micron shares, but be sure to do so before the chip glut is over. “Once there’s a sign of bottom, this thing will bounce back like crazy — it always has,” he said.
- Cramer said the company should continue to make money this year thanks to the current travel boom. He said that investors interested in the stock should buy it on a gradual decline.
- He said that when the company is “fantastic”, he will own shares of it. Danaher Compared to Illumina.
Disclaimer: Cramer’s charitable trust owns shares of Qualcomm and Danaher.
