Jim Cramer Highlighted 25 Stocks Like Apple, UnitedHealth, and the Rotation into Defensive Sectors

19. JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co. (NYSE:JPM) was among the stocks Jim Cramer highlighted during Mad Money, as he noted the rotation into defensive sectors. Noting that the stock has recently risen, a caller asked whether it was a good time to buy. Cramer replied:

Okay, I don’t want you to buy it. Now, look, let me be very clear. I like JPMorgan. If you bought it, it’s not going to be bad. It’ll be fine. It’s a good situation. But buying anything before this deal is priced, I think, could be really fraught. Let’s table buying JPMorgan until after this SpaceX deal’s done, and then we can make a much more informed decision.

JPMorgan Chase & Co. (NYSE:JPM) provides financial services, including banking, lending, payments, and investment management. In addition, the company offers investment banking, asset management, and advisory solutions. Cramer called it the best bank in the world during the June 2 episode. He commented:

But honestly, if you’re looking for a fortress, I like the stock of JPMorgan here. It’s got balanced growth, sells for only 13 times earnings. It’s the best bank in the world…. I’m not going to give you the performance of Micron by telling you to buy JPMorgan. You’re not going to get it. But anyway, you’re not that early in Micron. You could be early in JPMorgan.

JPMorgan’s the antithesis of Micron. You normally don’t get to buy the stock so cheap, and no one would regard it as a lousy franchise even if the stock’s down 7% year to date. You can buy JPMorgan and put it away. Mighty hard to buy and put any tech stocks away right now.