Even though many megacap tech stocks continue to nose dive, CNBC's Jim Cramer on Tuesday told investors not to forget they are still solid companies.
"Never forget, though, that you're selling winners, actually bona fide winners, for stocks that were losers just two weeks ago.
That's why Wall Street had favored them over the past few years as the Fed kept rates high to combat stubborn inflation, he continued.
For now, Cramer argued, Big Tech outfits are "just very strong businesses with suddenly very bad stocks."
"The Magnificent Seven, the companies, will be doing just fine regardless of where the Fed takes interest rates," Cramer said.
Persons:
Jim Cramer, Cramer, Stanley Black, Decker
Organizations:
Apple, Nvidia, Meta, Microsoft, Fed, Big Tech