Cramer Urges Buying AI Stocks as Nasdaq Drops 1.7% on 172,000 Jobs Report
Updated
Updated · CNBC · Jun 5
Cramer Urges Buying AI Stocks as Nasdaq Drops 1.7% on 172,000 Jobs Report
3 articles · Updated · CNBC · Jun 5
Summary
Nasdaq fell 1.7% and the S&P 500 nearly 1% Friday after May payrolls rose 172,000 and unemployment held at 4.3%, lifting Treasury yields and reviving year-end rate-hike worries.
Jim Cramer called the pullback a buying chance in beaten-down AI and chip names, arguing the data-center demand thesis remains intact; he flagged Intel—down 6%—as a level to buy.
Broadcom’s weak guidance continued to pressure semiconductors, while money rotated into defensive healthcare stocks including Johnson & Johnson, Eli Lilly and Cardinal Health.
CrowdStrike slid another 3.4%, but Cramer said expectations tied to Anthropic’s Mythos project are premature and framed the drop as an entry point ahead of what he expects to be a strong quarter.
Apple’s WWDC on Monday, Honeywell Aerospace’s June 29 spinoff and a SpaceX IPO expected next Friday are the next catalysts Cramer said investors are watching.