Jim Cramer Says “I’ll Go for AMAT”

Applied Materials, Inc. (NASDAQ:AMAT) was among the stocks Jim Cramer highlighted during Mad Money, as he noted the rotation into defensive sectors. Cramer started the list with the stock, as he stated:

I want to study what people still want in this miserable environment, so when things get better, we know what they’re going to go for. So what managed to hit the new high list at one point today or another in spite of the very tough backdrop? Yes, I’m being constructive even with Oracle down 6.6% after the close of the market.

First is one that’s typical of this market, at least until this week. It’s Applied Materials. We had them on recently. We know there’s a huge semiconductor shortage, especially for chips that handle storage and memory. That means we need more semiconductor manufacturing equipment from Applied Materials. We had CEO Gary Dickerson on recently. He’s well aware of his company’s importance in the food chain. That tells me, you know what, things clear up, I’ll go for AMAT.

Photo by Artem Podrez on Pexels

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, software, and services that help manufacturers produce semiconductors and other electronic devices.

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