Jim Cramer Supports Megacaps for Long Term Despite Wall Street Selling

Jim Cramer remains optimistic about the long-term prospects of megacap stocks, even as they continue to decline.

“I think if you’re willing to own them for the long-haul and take some pain, you’ll continue to win,” Cramer said. He encourages investors to take profits on winners when possible to avoid getting "obliterated," but acknowledges that owning losers can feel more difficult.

Cramer reviewed the bear cases for the Magnificent Seven— $Apple (AAPL.US)$ , $Amazon (AMZN.US)$ , $Meta Platforms (META.US)$ , $Microsoft (MSFT.US)$ , $Alphabet-A (GOOGL.US)$ , $NVIDIA (NVDA.US)$ , and $Tesla (TSLA.US)$ —as well as $Eli Lilly and Co (LLY.US)$ . He believes the arguments against these stocks are not new and thinks declines are due to investors being "frightened" and not wanting to lose their gains.

“These are solid companies with real earnings and great balance sheets,” Cramer said. “But these moments of panic are usually where you need to be patient and even opportunistic, taking the sell off as a chance to buy some great stocks while they’re on the way down.”