Jim Cramer has recently discussed the resilience of the "Magnificent Seven" and Netflix (NFLX, Financial) as the overall index continues to climb. Among these top performers are Amazon (AMZN, Financial), Alphabet(GOOGL, Financial), Apple (AAPL, Financial), Microsoft (MSFT, Financial), Nvidia (NVDA, Financial), Meta Platforms (META, Financial), and Tesla (TSLA, Financial). Cramer highlighted effective rebounds following recent dips. He specifically pointed to Nvidia and Apple as buy-and-hold opportunities due to their robust fundamentals despite share price volatility.

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Cramer expressed optimism about Apple's prospects in China, downplaying the skepticism around its operations there. However, he was more cautious about Alphabet, citing ongoing antitrust cases, yet he remained confident in its potential for a rebound. He praised Amazon's web services and Meta's robust advertising platform as critical drivers of their recent successes.

Addressing the rumors affecting Microsoft's AI assistant, Cramer urged for more substantial evidence before dismissing the company's prospects. He also advised against betting against Tesla, noting Elon Musk's proven track record in navigating company controversies. He also mentioned that Netflix has yet to capitalize on its new advertising segment fully.

Cramer characterized the current market movement as a tech rally that not only boosts its own sector but also elevates other market segments, aided by recent Federal Reserve interest rate cuts. This marks a departure from previous rallies, suggesting a more supportive environment for widespread market growth.

This article first appeared on GuruFocus.