[DigitalToday reporter Jinju Hong] Jim Cramer, host of CNBC’s “Mad Money”, has kept a bullish stance on mega-cap technology stocks despite their poor recent performance.

According to CNBC on July 9, Cramer pointed out that the market is evaluating these stocks as a group, but their business structures and artificial intelligence strategies differ widely.

He said it was wrong to make investment decisions by treating the so-called “Magnificent 7” as moving in the same pattern. The Magnificent 7 refers to Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. The group led the market’s rise in recent years as the generative AI boom continued, but has broadly struggled in 2026.

Cramer said investors should focus more on when AI businesses will be monetised than on short-term share-price moves. “Someday will come when one of these companies says at an earnings report that it is raising its forecast because of AI products,” he said. “Then a strong rally could come across all the stocks, and investors who missed it will regret it,” he said.

Cramer expanded on his view with Meta and Alphabet as examples. Meta is reported to plan to begin producing its own AI chips by the end of this year. That extends a move to further expand computing capacity through next year. He said the market took the news as a sign it would not be easy to scale back massive capital spending, and the initial reaction was also poor. As Meta is also said to be considering a new business selling computing capacity externally, the possibility of competition in cloud services led by Amazon, Alphabet and Microsoft has also come into focus.

Cramer said Wall Street is underestimating Meta’s strengths. Referring to Meta CEO Mark Zuckerberg (마크 저커버그), he said, “We have to acknowledge that he may know more than we do about the company’s outlook,” adding, “He has proven that judgment many times.”

He made a similar argument about Alphabet. The market is focusing on Alphabet’s large-scale AI investment and competition among chatbots such as ChatGPT and Claude, but it should also consider the value of businesses such as YouTube and Waymo. Cramer told investors: “Stop comparing and start thinking.”

He acknowledged that large technology stocks may continue to move together for the time being. That means weakness in one stock could continue to drag down others. But he said upside momentum could also grow if the same structure works in reverse. If even one company shows its AI business has become a meaningful source of profit, a re-rating across the rest of the group could spread quickly, he said.

“If just one of these giants says its AI business is now generating profit, the situation will change,” Cramer said. In that case, investors’ attention could shift from general-purpose semiconductor stocks to mega-cap cloud companies that generate massive cash flow, he said.

He said the key message is that investors should move away from viewing large technology stocks as a single trading target. Meta’s push to internalise chips and expand its computing business, the value of Alphabet’s existing businesses, and whether AI can be monetised were presented as factors that could determine the future direction of share prices. Among investors, a bigger point of focus is when AI investment translates into improved results, rather than the scale of that investment at each company.