CNBC’s Jim Cramer said Wednesday that a handful of technology giants have become so powerful that their influence extends far beyond their stock prices.
The “Mad Money” host likened them to “nation states,” pointing to their dominant competitive positions, ability to generate substantial profits and willingness to aggressively invest in emerging technologies
Cramer identified Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, Tesla, SpaceX, Anthropic and OpenAI as companies fitting that description. “Their heft is so extraordinary that ‘Mad Money’ cannot go without covering them,” he said. Cramer’s Charitable Trust, the portfolio run by CNBC’s Investing Club, owns shares of Alphabet, Amazon, Apple, Meta, Microsoft and Nvidia. Still, even these giants aren’t immune to broader market forces.
Cramer compared them to aircraft carriers — better equipped to withstand turbulent conditions than smaller vessels, but still vulnerable to powerful economic currents. Those pressures were evident Wednesday as oil prices climbed with renewed concerns about the conflict with Iran, while Fed Chairman Kevin Warsh warned that inflation remained elevated, leaving the possibility of further rate hikes on the table. “I listened and I didn’t hear anything that could derail the biggest companies,” Cramer said. Microsoft’s latest earnings offered a case in point.