Cramer says look to these 4 stocks to go with your high-flying tech names

“I want to praise the other parts of the market … that have been marked down already, which makes them less vulnerable,” the “Mad Money” host said.

With the S&P 500 and Nasdaq Composite hitting fresh highs recently, Cramer warned that some parts of the market, particularly technology, may be overheated and susceptible to sharp pullbacks.

Instead, he pointed to what he called the “cold” side of the market: healthcare stocks that have been discounted despite solid fundamentals.

Cramer highlighted four healthcare companies he believes are being overlooked and will help add diversification to portfolios.

He likes CVS Health, arguing the company is benefiting from a changing competitive landscape as rivals like Rite Aid disappear and Walgreens scales back. With its insurance arm Aetna and thousands of retail locations, he said CVS is well positioned to pick up market share as competition fades.

Cramer also pointed to Cardinal Health, which he said, “has been annihilated here without any reason other than, I think, a vicious rotation out of health care.” The company is shifting beyond its traditional role as a drug distributor into higher-growth services, particularly supporting specialty medical practices.

Another name on his list is Johnson & Johnson. Cramer emphasized its strong balance sheet and said it has the “best pipeline of potential blockbusters of any pharmaceutical company.”

Finally, he called out UnitedHealth Group, which recently delivered a strong earnings beat. Cramer said the return of CEO Stephen Hemsley — who had been chief from 2006 to 2017 — has helped stabilize the business and restore confidence in its ability to generate consistent growth.

Cramer’s broader takeaway is that investors need to have “good balance” in their portfolios. After such a powerful AI-fueled run in tech, he said, investors may soon need it.

Disclosure: Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club, owns shares of Cardinal Health and Johnson & Johnson.