Jim Cramer says Big Tech firms need to ‘change the way they operate’ to stay market leaders

Cramer’s comment comes on the heels of several disappointing earnings results from Big Tech firms. The host of ‘Mad Money’ previously said that financial stocks could overtake tech stocks as the new market leaders in the current high interest rate environment. Cramer said that the streaming giant’s plans for the latter initiative exemplify the type of innovation FAANG companies need to stop their downward trajectory’Forget being leaders – Big [Tech] stocks are now followers in a post-Covid era where we’re learning that their earnings were far more inflated by the pandemic than we knew,’ he said. Amazon is slated to report its third-quarter earnings on Thursday, while Microsoft issued weak quarterly guidance that weighed down its stock. Netflix has fared better than its . . .