NEW YORK ( TheStreet) -- The technology sector is getting steam rolled, but Jim Cramer said during Friday's "Stop Trading!" segment on CNBC that there is no need to panic.
"When you see a complete exit from a sector, it is usually because of a large mutual fund or a bunch of smaller funds," Cramer said.
Cramer did say, however, that he remains concerned about SanDisk (SNDK), which is a commodity play. He fears there could be price wars.
Qualcomm (QCOM) had a good quarter, but released horrible guidance, Cramer said. "Qualcomm," he said, "has no credibility."But the only reason Microsoft (MSFT) is going down is because of the "vast exodus by mutual funds," Cramer said. "Microsoft delivered." "You have to let these institutions do what they have to do," Cramer said -- while also nothing that, as valuations get lower, it could be a good entry point.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV