CNBC's Jim Cramer looked at what might have spurred Wednesday's Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla .
Cramer was impressed with the strength in the company's search business, as well as its Google Cloud revenue, which topped estimates at $10.35 billion.
But Cramer said CEO Elon Musk "told a great story of self-driving technology, sorely needed energy production, not to mention humanoid robots."
Cramer suggested both Alphabet and Tesla might not have declined if the market wasn't in the midst of a broader rotation out of tech.
Cramer also examined stocks that have been seeing gains on the S&P 600 — the S&P's small cap index — as investors sell the mega caps.
Persons:
CNBC's Jim Cramer, it's, Tesla, Cramer, Elon Musk
Organizations:
Big Tech, Nasdaq, Google, ATI, Ensign Group, SPS Commerce, Mueller