'A gentle dip ahead of earnings can be the best vaccination against a sell-off,' Jim Cramer says.
After reaching a new high of $1,296.97 in the session, shares of Alphabet plummeted nearly 8% in after-hours trading. The tech giantof $11.90 per share, compared with the expected $10.61. But, reported revenue of $36.34 billion fell below analysts' projections of $37.33 billion.
Ahead of Monday's close, the stock had run up nearly 10% in April. Cramer called it a "horrendous set up." "[It's] another classic worst-case scenario, although the pattern of Alphabet's stock is to get pummeled on earnings and then spend the next three months rallying until it gets pummeled on earnings again," he said. "It's the Sisyphus of modern growth stocks."call last Thursday, when the company revealed weaker-than-expected revenue expectations.
Nearly a third of all S&P 500 companies are set to report earnings this week. If a stock surges into the quarter and the earnings results turn out to be bad, investors could be set up for a tough decline, Cramer warned. The major indexes on Monday all advanced. The Dow Jones Industrial Average added more than 11 points, the S&P 500 gained gained 0.11%, and the Nasdaq Composite moved 0.19%. The latter two averages both recorded new 52-week highs.Want to take a deep dive into Cramer's world? Hit him up!
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