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Tech stocks now need supply shortages, not just strong earnings, to rally, says Jim Cramer.

Market News
29 Apr 2026
CNBC
View Source
Neutral
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Jim Cramer highlighted a shift in the tech stock market where strong earnings alone no longer drive stock rallies. Investors now favor companies experiencing supply shortages, such as Seagate and NXP Semiconductors, over mega-cap tech giants like Alphabet, Amazon, Meta, and Microsoft, which showed mixed post-earnings reactions. This trend reflects a preference for scarcity and constrained supply, even if the companies are smaller or older tech firms. The change signals that visible demand and limited supply are becoming key drivers for tech stock performance.

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