Jim Cramer says Facebook (FB) - Get Meta Platforms Inc. Class A Report and Alphabet/Google (GOOG) - Get Alphabet Inc. Class C Report , (GOOGL) - Get Alphabet Inc. Class A Report are typically OK buy on dips like the one GOOGL faced recently when advertisers expressed fears about spots popping up next to controversial videos.
"We told you to buy it so aggressively when people were worried about that ad issue, [where] advertisers were complaining they didn't want to be next to porn, didn't want to be next to hate," Cramer said Wednesday in an exclusive monthly conference call for members of his Action Alerts PLUS club for investors. "Well [Alphabet] had a solution [that] they put into the works in a couple of weeks."
Cramer said there's always a risk of selloffs with such stocks after earnings reports, but that these pullbacks can often serve as good buying opportunities.
"[Alphabet] still could sell off because there's always some detail that makes people say: 'Ooh, I've got to get out of that one," he said. "Witness PepsiCo (PEP) - Get PepsiCo, Inc. Report . [People said,] 'Oh, I've got to get out on that one,' but there's nothing wrong with Pepsi."
Cramer added that Facebook has a history of insider-selling that often follows earnings reports and temporarily depresses the stock price. "They open the window [for insider sales] after they report, [then] the stock looks heavy and then bingo" -- prices fall, he said.
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At the time of publication,
, which Cramer co-manages as a charitable trust, was long FB, GOOGL and PEP.