These five Nasdaq losers, Jim Cramer says, could rebound in 2023

CNBC’s Jim Cramer on Friday mentioned four stocks he thinks could recover this year.

To come up with his picks, he analyzed the last year’s worst-performing stocks listed on the Nasdaq 100.

“Among the biggest losers on Nasdaq, I think Qualcomm, Lam Research, Micron, and Airbnb will be in play this year, although not necessarily the first half,” he said, adding, “And don’t forget Illumina.”

Here are his thoughts on each stock:

Qualcomm

• Cramer said that while Wall Street expects the semiconductor company to start losing iPhone orders in 2024, it’s possible the company could hold at least some of those outstanding orders. He added that the company’s push into the auto market should also help stocks.

L Research

• And he acknowledged that the immediate future could be ugly for chipmakers. But, “You can’t afford to wait too long after this next bad quarter, because Lam’s stock will be down for months before the business picks up,” he said.

micron

• He advised investors to wait several months to buy shares of Micron, but be sure to do so before the chip glut ends. “As soon as there was any sign of a bottom, this thing would bounce like crazy — as it always did,” he said.

Airbnb

• Kramer said the company should continue to make money this year thanks to the current travel boom. He added that investors who are interested in the stock should buy it gradually on its way down.

Illumina

• He said that while the company is “great”, he would prefer owning stock in it Danaher from Illumina.

Disclaimer: Cramer’s Charitable Trust owns stakes in Qualcomm and Danaher.