Those Selling Uber Technologies (UBER) After Earnings Are ‘Morons’

We recently published a list of Top 10 Stocks Everyone Is Talking About These Days. In this article, we are going to take a look at where Uber Technologies, Inc. (NYSE:UBER) stands against other top stocks everyone is talking about these days.

Major AI stocks are wavering as investors assess the impact of decreasing hardware costs and their effects on technology spending. T. Rowe Price’s Tony Wang said in a latest program on CNBC that while Mag. 7 companies are still strong, there are opportunities to look elsewhere as the technology-related gains broaden out.

“You saw the Mag. 7 really dominate the last two years, and I think going into this year, I think that there’s a lot of concern over the capex that’s being spent. I mean, they’re kind of becoming fundamentally different businesses in some respect in terms of the capital intensity. And then on top of that, you had kind of more inline reports, and so when you’re spending a lot of capex and you’re coming in line, I think that tends to set up for a tougher stock reaction. And so, you know, I think there’s other areas in tech that naturally things will broaden out to, like things that have more bottoming fundamentals and can have a little bit easier setup. So I think that, you know, we’re looking for more broadening, and I think that these are still very good companies and still like a core part of tech portfolios, but I think there’s opportunity elsewhere as well.”

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For this article, we picked 10 stocks currently trending on latest news and analyst ratings. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

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Number of Hedge Funds Investors: 136

Jim Cramer in a latest program on CNBC recommended investors to gradually buy Uber Technologies, Inc. (NYSE:UBER) and called those selling the stock after the company’s latest earnings as “morons.”

“I like Uber very much now. I was there when they reported, and it was incredible. The stock went down, and I called out the people who were selling it as morons. Now, like, I think it can look— I mean, it’s a 74, could go back to 68, absolutely. So, Bill, here’s what we’re going to do: we’re going to buy a little bit tomorrow, and then if it goes to 68, we’ll buy a little bit more. Okay, that’s the game plan.”