Apple, Microsoft, Amazon and Alphabet are buys at these levels, Jim Cramer says
CNBC's Jim Cramer told investors Monday it is time to start buying the stocks of Apple, Microsoft, Amazon and Alphabet, saying the tech behemoths have reached attractive valuations after September declines.
The "Mad Money" host offered the advice following a more than 500 point decline in the Dow Jones Industrial Average, while the S&P 500 gave up 1.2%. The benchmark equity index recorded its fourth straight daily loss for first time since February and is down more than 6% in September.
"This wasn't day one of the decline, people. We're now two weeks into a gigantic sell-off and everything's being thrown away except a handful of lockdown stocks. Better to buy them when they're down than chasing them when they're up," Cramer said. "I just hope you have some cash on the sidelines to take advantage of the weakness."
Cramer said his charitable trust was putting cash to work Monday in stocks that have been caught up in the September swoon and "finally got low enough to be attractive." Apple, in particular, has reached an enticing level, he said.
The iPhone maker closed higher by about 3% Monday at $110.08 per share but it is still down almost 20% since its all-time high of $137.98 on Sept. 2.
"I don't care that it's up 50% for the year, it has more catalysts than nearly any other stock under the sun: new revenue streams, great balance sheet, stay-at-home economy exposure and, of course, 5G ...
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