Jim Cramer Discussed 5 Stocks, Like Meta, NVIDIA, and His Skepticism Toward Tech Stocks

3. Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore. Cramer mentioned the company while highlighting his current sentiment around drug stocks, as he remarked:

Obviously, the other leadership groups are a little more palatable to me… Healthcare, eureka, I found it. This is the leadership group that we’ve been looking for. Take Johnson & Johnson. It’s been shedding slower-growing divisions like Kenvue, its consumer products business, as well as its commodity orthopedic operations, focusing on fast-growing drugs. I like that. It’s got a ton of them. It’s got an AAA balance sheet, better than the US government. I like the drug stocks here. I like the UnitedHealths here.

Johnson & Johnson (NYSE:JNJ) develops and sells healthcare products, including pharmaceuticals and medical technologies, with treatments in immunology, oncology, neuroscience, cardiovascular care, and infectious diseases. Cramer mentioned the company’s “great new drug profits” during the June 5 episode, as he said:

Now, you can make good money for a while if you go all in on what’s hot, but I never do it because I know it’ll eventually blow up in your face… That’s why we run a diversified fund for the Investing Club. When you’re diversified, at any given moment, you’re going to own some losers, though, or at least some stocks that aren’t working. These stocks will lag while the data center roars, but they preserve your sanity when you get a tsunami-like sell-off in the hottest stocks out there.

Well, the tsunami of data center selling is here, and today’s the day when I’m kind of patting myself on the back for keeping the Charitable Trust diversified, not going all in on the data center complex. Today’s the day when we’re grateful for our Johnson & Johnson position. Great new drug profits. Triple-A balance sheet, better than the United States… See, the lesson’s clear, people. The P&Gs and the J&Js in your portfolio allow you to safely own the techs. They’re kind of like permits. But if you don’t take something off the table of the techs when you’re up big, I think you’re going to live to regret it.