GoKawiilCramer: Fortinet and ServiceNow misses dragged down unrelated rivals' stocks
Jim Cramer said Thursday's market selloff, which saw the Dow and S&P 500 fall 0.4% and the Nasdaq drop 1.4%, unfairly punished Palo Alto Networks, CrowdStrike, Workday and Salesforce alongside disappointing results from Fortinet and ServiceNow. He argued these companies have different business models and competitive positions than the firms that missed estimates.
GoKawiil's interpretation of the reporting above, not reported fact.
Cramer's comments suggest that sector-wide selloffs following one company's earnings miss can create mispriced opportunities for investors willing to distinguish between businesses. His view implies that short-term, sentiment-driven stock moves may not reflect underlying fundamentals at other companies in the same sector, though this remains his personal assessment rather than a confirmed market trend.
- Dow and S&P 500 fell 0.4%, Nasdaq dropped 1.4% on Thursday as earnings disappointed
- Cramer says Fortinet's weak results don't reflect broader cybersecurity demand issues, benefiting Palo Alto Networks and CrowdStrike
- ServiceNow's earnings miss also dragged down Workday and Salesforce despite differing business models
Source: cnbc.com — Alexa Lomonaco, 2026-10-29
Published there as: “Jim Cramer says Wall Street is punishing the wrong tech stocks”
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