Two old tech stocks Jim Cramer recommends owning for 2023
Tech stocks could be up for another difficult year ahead but there are select names within this space that will likely do good in 2023, says the Mad Money host – Jim Cramer.
Here are his top three tech stocks for the coming year.
Oracle Corporation (NYSE: ORCL)
Oracle had what Cramer called a “magnificent” second quarter (read more) and he expects that strength to continue moving forward.
Shares of the computer technology company are already up nearly 30% versus its low in late September, but the Mad Money host is convinced that it will go further up from here. He’s bullish on its $28 billion acquisition of Cerner as well.
I think that this thing has got a very durable business. It’s almost a crime against humanity that the stock is so cheap.
Cramer also has confidence in Safra Catz – the Chief Executive of Oracle Corporation.
Broadcom Inc (NASDAQ: AVGO)
Earlier in 2022, Broadcom said it plans on spending a whopping $61 billion to acquire VMware – it’s biggest acquisition to date that Cramer expects will unlock significant upside. Last night on Mad Money, he said:
That transaction might take some time to get regulatory approval, but the transformational deal will give them a lot more data-centre exposure, which matters to me.
The Nasdaq-listed firm recently raised its dividend by 12% to $4.60 a share and also has authorisation to buyback $13 billion worth of its stock.
Cramer recommends buying Broadcom stock here at 14 times earnings that suggest a reasonable discount.
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