Meta Platforms, Inc. (NASDAQ:META) was among Jim Cramer’s stock calls on Mad Money, as he advised investors to stick with the largest tech companies in the market.
Cramer discussed the company’s competition, as he stated: Consider what each of these companies really is
Hey, why don’t we start with Meta? Okay, that’s become a real mystery. This morning, it was reported that Meta has a new chip in production with Broadcom.
That caused an instant panic because it meant that Meta was going to spend a ton of money to keep up with Google, Amazon, and Microsoft in the cloud computing business. Then throw in Meta’s acknowledgment that it’s going to spend a lot more money on capital expenditures, a dreaded strategy from Wall Street’s perspective, and the stock got slammed right out of the gate. Meta can’t possibly go up against those other companies, right?