CNBC's Jim Cramer commended tech megacaps for their strong earnings reports amidst economic uncertainty, highlighting Microsoft and Meta's impressive performances. Microsoft's optimistic earnings guidance and cloud growth signal robust prospects, while Meta's success in digital advertising and plans to monetize WhatsApp hint at potential revenue streams. Both companies demonstrated resilience during a challenging period for tech stocks. Cramer believes that these firms are equipped to thrive in various market conditions, supporting the notion that they are built for long-term success and can outperform when the market faces challenges.
If we're in for lean times, itâs quarters like these that remind me these mega-caps were built to prosper, built to make money in any kind of market.
Microsoft's uplifting guidance this quarter was a welcome change from more underwhelming forecasts over the past few quarters. Azure's growth is particularly impressive.
Meta's strength lies in its digital advertising business, and its strategy to attract younger consumers could dominate the advertising space.
Recent earnings demonstrate the resilience of these outfits, likening them to nation-states endowed with tens of billions of dollars providing in-demand products.
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