Jim Cramer: Tech stocks losing qualities that drove their market leadership since 2023
By
Alexa LoMonaco
Front-window bakery material. Catches the eye, delivers the goods.
Summary
CNBC's Jim Cramer argues that technology stocks are losing the key characteristics that made them market leaders since 2023 — namely strong earnings, limited share counts, and aggressive buybacks. He suggests the sector's leadership qualities are deteriorating, potentially signaling a shift in market dynamics.
Key quotes
· 3 pulledA real bull market has leaders, and those leaders have terrific characteristics.
They make a lot of money, there's a limited number of them, and there aren't too many shares around because these companies constantly buy them back.
Following the mini banking crisis in 2023, tech stocks led the market higher.
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