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CNBC’s Jim Cramer reviewed recent market action and made the case for Procter & Gamble
. He drew a distinction between companies like the consumer giant, which makes use of new technology, and tech hyperscalers that spend billions on artificial intelligence to compete with each other.
“My favorite tech stocks right now are the business-to-business users of technology,” he said. “I think these companies will increasingly be given a chance to buy amazing tech that will help them cut costs and bring new products to market much faster than ever, and that we never even knew we needed.”
Procter & Gamble owns many well-known household and hygiene brands including Pampers, Crest, Olay, Gillette, Dawn, Febreze and Mr. Clean. The company has used AI to improve its supply chain and design factories more efficiently, Cramer said, suggesting the outfit has saved millions.
