As indicated by Jim Cramer of CNBC on Tuesday, a batch of new tech stocks may be becoming the market leaders.

Although heavyweight stocks such as NVIDIA, Microsoft, Alphabet, and Meta have struggled to maintain their upward trend in recent weeks, other companies are showing signs of strength. During trading on Tuesday, the gains of Broadcom and Micron supported the major stock indices, indicating that investors may be shifting their focus to another group of technology winners.

"Tech stocks are trying to establish a foothold here. But these are no longer the same tech stocks that led us in the past few years," said the host of "Mad Money".

Cramer mentioned chip manufacturer Advanced Micro Devices and networking company Arista Networks – both of which announced strong quarterly results after the close on Tuesday – and stated that they could help lead the recovery of the tech sector. He also mentioned Oracle, whose stock price rose by nearly 6% during trading on Tuesday.

"I hope that tech stocks outside of the 'Big Seven' can lead us forward," he said. "But I also realize that there are some concerns we must pay attention to before we become overly optimistic due to a series of positive developments."

One concern is that as local communities oppose data center construction due to concerns about rising electricity costs and excessive water consumption by the facilities, the resistance faced by these projects is increasing. He stated that smaller developers such as Iren, Nebius, and CoreWeave may be particularly vulnerable if their projects are canceled or forced to relocate, whereas large companies like Amazon have more resources at their disposal to secure alternative locations.

The ongoing Iran war is another source of uncertainty. On Tuesday, oil prices fell as the market hoped that negotiations between the United States and Iran might make progress. However, Cramer reminds us that Wall Street has underestimated the risk of further escalation of the situation on multiple occasions in the past, so it is difficult to assert that this conflict no longer poses a threat to the market.

He did not directly indicate that the sector had hit rock bottom. After several months of failed rebounds, Cramer said that he “wants to wait until emotions reach a climax before reinvesting too much capital in tech stocks.”

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