Prominent market commentator Jim Cramer has suggested three communications services stocks that are buys in an otherwise “untouchable” group.
What Happened: “In an awful year for stocks, communication services was the worst group in the S&P 500, which is really saying something,” Cramer said, according to CNBC.
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The communication services sector includes telecommunications companies, media and entertainment companies, and some large internet companies.
Following are the three stocks that Cramer talks about:
1) T-Mobile US Inc. TMUS: The market expert called the company the best-performing wireless carrier in the U.S. and added that he believes in the stock’s ability to soar. Shares of T-Mobile have gained over 22% since the beginning of the year.
2. Walt Disney Co. DIS: Cramer said the company will turn itself around given the fact that CEO Bob Iger has returned to the helm. Shares of Walt Disney have shed over 43% since the beginning of 2022.
3. Netflix Inc. NFLX: Cramer said he is “feeling better and better” about the company. Shares of Netflix have lost over 50% since the beginning of the year.
Cramer’s recommendation comes at a time when the much-awaited Santa Claus rally did not materialize after persistent rate hikes by the Federal Reserve dented equity and bond markets alike this year.
The SPDR S&P 500 ETF Trust SPY lost over 19% this year while the Vanguard Total Bond Market Index Fund ETF BND shed over 13%.
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