CNBC’s Jim Cramer on Friday named four stocks he thinks could make a comeback this year.
To make his selection, he analyzed the worst-performing stocks in the Nasdaq 100 over the past year.
“Out of the Nasdaq’s biggest losers, I think Qualcomm, Lam Research, Micron and Airbnb will work this year, although not necessarily in the first half,” he said, adding, “and don’t forget Illumina.”
Here are his thoughts on each stock:
Qualcomm
- Cramer said that while Wall Street expects the semiconductor company to lose iPhone orders beginning in 2024, it’s possible the company could hold at least some of those orders that are due. The company’s foray into the auto market should also help the stock, he added.
Lam Research
- He acknowledged that the near future could be ugly for chipmakers. However, “You can’t afford to wait too long after this next bad quarter because Lam’s shares will bottom months before the deal,” he said.
micron
- He advised investors to wait several months before buying Micron stock, but do so before the chip glut is over. “As soon as there are signs of a bottom, this thing will bounce back like crazy — it always has,” he said.
Airbnb
- Cramer said the company should continue to make money this year thanks to the current travel boom. Investors interested in the stock should buy it gradually on the way down, he added.
Enlightenment
- He said that while the company is “great,” he would rather own Danaher than Illumina.
Disclaimer: Cramer’s Charitable Trust owns shares of Qualcomm and Danaher.
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