CNBC’s Jim Cramer on Tuesday described how consumer-focused companies are suffering as money primarily flows into data-heavy outfits in tech.
As consumers tighten spending, CNBC's Jim Cramer told investors to focus on companies that deal with data and have primarily enterprise customers.
"Right now, you have to follow the money, and it's currently flowing to businesses that cater to other businesses and the ones that need to interrogate the data," he said."The rest? Not much there." Cramer said the biggest names in tech are part of this data surge, including Amazon, Alphabet, Microsoft, Meta, and Apple.on Tuesday analyzed the current market action, pointing out the way consumer-focused companies are suffering while outfits that deal with data and have enterprise customers triumph."Right now, you have to follow the money, and it's currently flowing to businesses that cater to other businesses and the ones that need to interrogate the data," he said.
But Cramer said this consumer weakness won't last forever and the money flow may shift once rates come down.
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