CNBC "Mad Money" host Jim Cramer sees further opportunity in the tech-heavy Nasdaq index, up 12% so far this year.
“Short this [N]asdaq and invite me to your funeral,” Cramer tweeted.
Billionaire entrepreneur Elon Musk replied with a partying-face emoji. No wonder. Tesla is one of the biggest stocks in the Nasdaq Composite, which fell 33% in 2022.
Those interested in getting in on Cramer’s tip can buy a Nasdaq-focused exchange-traded fund (ETF), like the Fidelity NASDAQ Composite Index ETF (ONEQ). In line with the index it tracks, the fund, which charges a 0.21% net expense ratio, is up 12% year to date.
Or, investors can pick up one of the major companies in the index of more than 3,000 stocks, one being Apple (AAPL), up 25% YTD.
Another is Microsoft (MSFT). Although the stock is down 13.08% YTD, Mizuho Securities analyst Gregg Moskowitz has a Buy rating on Microsoft and a price target of $315, implying a 17% upside potential.
Finally, there’s Amazon (AMZN), whose shares have appreciated 13% YTD. JPMorgan analyst Doug Anmuth has an Overweight rating on the stock and a price target of $135, which would mean a 39% increase.
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