CNBC’s Jim Cramer said Friday that investors should be ready to find buying opportunities on the stock market while the earnings season is in full swing.
When companies report quarterly results, market participants are quick to digest the numbers and Wall Street is prone to make a lot of mistakes, he said, citing trade measures in Honeywell and American Express as an example.
“Next week there will be reports that encounter negativity and not all of them will be really bad. So I urge you to take advantage of this weakness,” said the Mad Money host.
Given that well-known brand names like Boeing, Microsoft, Starbucks, and Amazon are set to report, this will be the most brutal part of the earnings season, he added.
“As we get closer to the next five days of earnings, you need to think about what is being hit as badly as what is working, as this market creates some incredible buying opportunities,” said Cramer.
Cramer announced his schedule for the coming week. The earnings per share forecasts are based on FactSet estimates:
Tesla
“These numbers don’t just affect Tesla itself. There are dozen of electric vehicle SPACs, smaller inventories that Tesla need to be successful as it gives legitimacy to the whole group,” Cramer said. “I like Tesla at these levels. I bet the quarter will be good.”
alphabet
“We have to focus on Google Cloud. I think it steals the show. I like it a lot,” said Cramer.
Microsoft
“Microsoft’s stock has risen so much that it has to report a monster neighborhood with huge Azure numbers. The funny thing is, I think they probably will. I say stick with it,” he said.
Starbucks
“The Chinese business should be very strong, but the US is still moving to a new world where it is the only game in town,” the hosts said. “Starbucks had a monster run last year in anticipation of the grand reopening and that call, well it might be too early. I’m looking for a retreat.”
modern micro devices
“I bet Lisa Su, the relentless CEO, will tell a great story. And unlike so many other semiconductor names, her stock actually fell 10% over the year, which means she might be ready to rock,” he said.
Boeing
“If you are like me and you think we could be heading for an unprecedented economic boom, including the largest travel attack in this nation’s history, you want to own the company that will benefit the most, and that is Boeing.” Said Cramer.
Apple
“Apple’s stock was lagging behind until recently. It caught fire as we chatted about better cell phone sales and a major potential intrusion into the company,” he said.
Ford engine
“Despite the lack of chips, I am expecting excellent numbers,” said the hosts. “Ford is worth buying.”
“Judging from what we heard from Snap last night … I think you’d have to believe Facebook is going to knock it out of the park,” he said. “Once again, it’s not too late to be a buyer on Facebook as I think it’s reaching an all-time high.”
Amazon
“The stock has been kicking water for months precisely because people are concerned about the year-on-year comparisons,” Cramer said. “I think the company has gained new followers … I think the stock still works.”
Skyworks
“I predict a real blowout,” he said.
Exxon Mobil
Chevron
“When I listen to the oil people, I get the kind of positive vibes I haven’t heard in years. With prices rising and costs falling, I think these two companies might surprise upside,” Cramer said.
Clorox
Colgate
“Wall Street is prudent about both,” he said. “I can’t say your stocks will do well when they report … at best they are battlefield stocks and there is no reason to approach a battlefield not in this market.”
Disclosure: Cramer’s charitable foundation owns shares in Amazon, Ford, Boeing, Facebook, Alphabet, Honeywell, Microsoft, and Starbucks.
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