• CNBC’s Jim Cramer explained that few sectors are currently clear winners or losers under either candidate’s administration.
• “This presidential prediction game is meaningless until we hear about the cabinet nominations, that will tell us a lot,” he said. “But right now there are just too many political angles to every stock story.”

As Americans voted in a historic presidential election race between the former president Donald Trump and vice president Kamala HarrisCNBC Jim Cramer explained that few sectors are currently clear winners or losers under either candidate’s administration.

“This presidential prediction game is meaningless until we hear about the cabinet nominations, that will tell us a lot,” he said. “But right now there are just too many political angles to every stock story.”

Cramer first looked at the tech giant Applenoting that under the Biden administration he faces a antitrust lawsuit of the Ministry of Justice. But the iPhone maker’s shares have recovered since the trial, he said, and suggested there may be no reason to assume Apple would fare better with Trump in the bar. Trump has promised to significantly increase tariffs, particularly on goods from China. The tariffs could hurt Apple’s profits as the company relies heavily on imports from the country.

He looked Amazon in a similar vein, saying that even though Biden-appointed leaders of the Federal Trade Commission have accused the company that wields illegal monopoly power, the stock has seen immense gains in recent years. He even suggested that Wall Street might like the company’s spin-offs. But during Trump’s previous term, he seemed to show disdain for the online retailer and its tax practices — even if its FTC executives may be more lenient toward big companies.

“When it comes to many actions that seem obvious to one candidate or another, there is a Yin and Yang dynamic that doesn’t get enough attention,” Cramer said.

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Disclaimer The CNBC Investing Club Charitable Trust owns shares of Apple and Amazon.

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