Jim Cramer says these 5 Nasdaq losers could bounce back in 2023

CNBC’s Jim Cramer on Friday mentioned four stocks that he thinks could make a comeback this year.

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

“Of the Nasdaq’s biggest losers, I think Qualcomm, Lam Research, Micron and Airbnb will perform this year, but 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 on to at least some of those orders. The company’s push into the auto market should also help the stock, he added.

Lamb Research

• He acknowledged that the near future could be ugly for chipmakers. On the other hand, “You can’t afford to wait too long after this next bad quarter, because Lam’s stock will bottom out months before the business does,” he said.

Microns

• He advised investors to wait several months to buy shares of Micron, but be sure to do so before the chip glut is over. “When there’s any sign of a bottom, this thing will bounce back like crazy — always has,” he said.

Airbnb

• Cramer said the company should continue to make money this year thanks to the current travel boom. Investors interested in the stock should buy it gradually on the way down, he added.

Illumina

• He said that while the company is “super good”, he would rather own shares of it Danaher than Illumina.

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