Cramer Sees Opportunities Beyond AI as Tech Stocks Falter

According to CNBC's Jim Cramer, the tech-heavy Nasdaq Composite dipped 0.26% on Wednesday, even as the broader market saw gains, with the Dow adding 0.68% and the S&P 500 inching up 0.06%. Cramer expressed optimism about the strength of the overall market, noting that stocks were able to rally despite weakness in the tech giants.

Cramer pointed to a number of undervalued companies in sectors like retail, travel, restaurants, aerospace, and pharmaceuticals that could "catch fire" now that the government shutdown appears to be coming to an end. He suggested major travel stocks such as United Airlines, Delta, and Expedia are starting to rebound, which is good news for cruise lines and hotels, including Marriott. Cramer also highlighted promising signs in the restaurant industry, with Chili's parent Brinker International, Texas Roadhouse, and Chipotle making "nascent" moves.

The end of the shutdown is also expected to boost retail stocks, with Cramer noting that shoemaker On, as well as Urban Outfitters, Macy's, and Costco, were doing well before the shutdown. Cramer welcomed the return to "growth investing, non-tech style," stating that these sectors do not require extensive buildouts, as "the building's already done."