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CNBC's Jim Cramer unpacked Thursday's market action, saying that even though tech stocks took a hit, they might not stay down for long, praising recent quarters from Apple and Amazon .

"After Apple's good quarter and fabulous guidance, and Amazon's great quarter and great guidance, I wouldn't be surprised if the money comes right back into tech," he said. "Tech will be back in the saddle tomorrow."

Stocks dipped during the session as investors analyzed quarterly reports from Big Tech. The S&P 500 declined 0.99%, while the Dow Jones Industrial Average lost 0.23% and the tech-heavy Nasdaq Composite dipped 1.58%.

Some of the day's weakness was owed to

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