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The worry over Big Tech is overblown. Here’s my view on each FAANG stock

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From the desk of Jim Cramer

"When the Nasdaq does nothing but go down on a few clicks of the bond market, you have to ask: Is the problem with the bonds or with the reset? I think it’s the latter.

 

We are undergoing a great reset where we seem to be returning to the precise levels hit before the Covid pandemic began in early 2020.

 

So what’s driving the Nasdaq down so vociferously? First, so much of the tech-heavy index relied on just five huge companies and their helpers. Second, the Nasdaq turned out to be a China proxy. And third, the analysts just aren’t caught up with the downside; price targets are coming down aggressively enough."

 

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-Jim Cramer

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Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.

 

Data also provided by THOMSON REUTERS

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