CNBC's Jim Cramer reviewed Wednesday's record-breaking tech rally, suggesting that the promise of looser government regulations, as well as innovative business, is driving stocks like the Magnificent Seven higher.
"They've done well, and now with the antitrust regulators out of their hair, I expect even better returns," he said.
The biggest names in tech, especially the Magnificent Seven — Nvidia , Alphabet , Amazon , Meta , Microsoft , Apple and Tesla — led the index higher, Cramer said.
But Cramer said he is "of two minds" about the situation, conceding that he understands why some believe these companies are too powerful.
This dynamic could become a problem in the future, he continued, but stressed that the Magnificent Seven "are dominant because they're extraordinary" and gave them accolades for their products and profits.
Persons:
CNBC's Jim Cramer, Tesla —, Cramer, Donald Trump's, Joe Biden's, Lina Khan, Khan, Republican Andrew Ferguson
Organizations:
Nasdaq, Nvidia, Meta, Microsoft, Apple, Big Tech, Federal Trade, Republican