AOL Money & Finance

Cramer on BloggingStocks: The game plan for the resurgent techs

Posted Dec 21st 2007 9:50AM by Jim CramerJim Cramer RSS Feed
Filed under: Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Cisco Systems (CSCO), Hewlett-Packard (HPQ), Intel (INTC), Adobe Systems (ADBE), Best Buy (BBY), Research in Motion (RIMM), Oracle Corp (ORCL), Cramer on BloggingStocks, Technology

More

Jim Cramer on BloggingStocks TheStreet.com's Jim Cramer suspects that nimble traders can enjoy real gains on this sector's run into year-end.

Can someone remind me what the bear case for tech was?

Oracle (NASDAQ: ORCL) (Cramer's Take), which has a huge business in financial services, shoots the lights out with a remarkable quarter. And then right on top of it, Research In Motion (NASDAQ: RIMM) (Cramer's Take), again laden with financial services, issues a huge quarter that kind of blows the mind after all that it has done already.

Before that we had Adobe (NASDAQ: ADBE) (Cramer's Take), again a much-used product in finance, print a quarter that was so strong that I was surprised the stock didn't leap.



Accenture (NASDAQ: ACN) (Cramer's Take) indicated that business around the world in finance was on fire, again, implying that financial tech purchasing remains strong.

And of course the week started out with Best Buy (NYSE: BBY) (Cramer's Take), the biggest seller of consumer hard goods, saying all the right things about the consumer and tech, including great things about tech-heavy big screen TVs and all sorts of other gadgets.

I believe that all of this negativity started with a very off-handed comment by John Chambers implying that a subset of financial services, the U.S. subset, was not so hot, causing a gigantic selloff in tech, including Cisco (NASDAQ: CSCO) (Cramer's Take).

It didn't matter that Western Digital (NYSE: WDC) (Cramer's Take) immediately told a different story or that Hewlett-Packard (NYSE: HPQ) (Cramer's Take), which I own for Action Alerts PLUS, did, too. Nor did it matter when National Semiconductor (NYSE: NSM) (Cramer's Take) started its call by saying that things simply weren't that bad.

Now we know it was much ado about nothing. That means you are going to see an extraordinary run into tech between now and year-end, including Apple (NASDAQ: AAPL) (Cramer's Take) and Google (NASDAQ: GOOG) (Cramer's Take), which no one I know thinks is in trouble, and of course Intel (NASDAQ: INTC) (Cramer's Take) and Microsoft (NASDAQ: MSFT) (Cramer's Take).

This tech "raid" was beyond belief right down to the end when rumors hit that Research in Motion was having a miserable quarter. I suspect that the shorts will be on the run here and that a fast trader can take advantage of the inevitable pinning down of a HPQ or an Intel, or at least the pressure down, and scoop up some bargains.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long HPQ.

RELATED LINKS:

Tags: AAPL, ADBE, Adobe Systems, AdobeSystems, Apple Inc, AppleInc, BBY, Best Buy, BestBuy, Cisco Systems, CiscoSystems, CSCO, featured, GOOG, Google, Hewlett-Packard, HPQ, INTC, Intel, Microsoft, MSFT, Oracle Corp, OracleCorp, ORCL, Research in Motion, ResearchInMotion, RIMM, tech stocks, TechStocks

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 26, 2009: 01:20 AM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

    BioHealth Investor Headlines

    WalletPop Headlines

    My Portfolios

    Track your stocks here!

    Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

    • My Portfolio
    • Create a New Portfolio

    BloggingStocks Partners

    More from AOL Money & Finance

    WalletPop Headlines