Cramer on BloggingStocks: Bearish analysts wrong on Texas Instruments

"Despite the solid results coming amidst a rising tide of better fortunes for the semiconductor industry, we remain concerned over the company's some 23% exposure to wireless handset revenue," Gauna cites as his negativity. Look, regardless of how difficult the transition will be, the idea that it would somehow trump the earnings -- and Texas Instruments beat his estimates by 13% -- well, let's just say that it has been a bad call to worry about the wireless exit impact. But he's not wrong, he's just early!

How about JPMorgan's Danely? In a smug piece titled, "TI Joins the Beat and Raise Conga Line. Extended Lead Times Worry Us Though," Danely raises his price target to $16. Spot-on! Who knows what the heck he was using before, but if you didn't know any better, maybe he was expecting a two-for-one split? Memo to Danely: Don't be cute, a la Conga Line of Beat and Raises, when you have been dead wrong. That's like doing an end-zone touchdown dance when you drop the ball! Unsportsmanlike!

Danely's worry is a stretch out in lead times that could lead to lower lead times, therefore violating his "Rule No. 3 of our top 10 rules of semi investing: Lead times coming in is bad." But lead times aren't coming in, so how does that violate his rules? More important, are these rules working if he thought the stock was going to get hammered instead of rallying? I would re-examine any set of rules that kept me from catching a 50% move in a stock, or at least the application of them.

Although Danely took 2010's earnings estimates from $1.28 to $1.70, his chief worry? "Downside risk to estimates!" Here's a guy who takes his estimates up 30% and then worries about the downside risk to estimates? I mean how in heck can that be? Is he pulling my leg? Neither analyst even seems to puzzle over the notion, let alone offer contrition, for why he missed one of the great runs in the biz.

Why is that? I have a simple response. When you are a bear, when you are negative about a stock, or when you are negative about the market, you know what, you can maintain your faux-rigor and simply sound even more erudite and conceited because don't people know that things are eventually going to get worse from Texas Instruments?

Here's the problem with that. It is possible to have gone positive on Texas Instruments when it didn't go down on that bad quarter when it was at $12. And yesterday you could have taken it off and taken a double and a bow.

Maybe that's who can be smug and crash the conga line. Maybe that's who can lower his price target. Maybe that's someone worth listening to.

The bears have to learn that time and price both matter. It is one thing to say that what you care about over time is how the semi group might be going lower; it is another thing that because of your bearishness, you miss a gigantic move.

A simple "I've been wrong, but I think ultimately the stock will go lower" would have made it so I wouldn't even bother to call out the Alphonse and Gaston of Texas Instruments.

Nope. Never get that from the bears. They don't have to. They are always right -- unless, that is, it's your job to make money. Or maybe that's a category they don't care for? Maybe they don't think it is necessary? Maybe, just maybe, it is a paper exercise?

I don't know. All I do know, though, is that every night I come out on TV, and I am either right or wrong. I am never right and off by 50%. I am never right in telling you to sell or short a tiger like Texas Instruments.

My solution?

If I ran the research department, I would force these two to wear a Texas Instruments Post-it on their heads for a day. Put themselves in the shoes of those who stayed away from Texas Instruments because of these recommendations. Then, and maybe then, they would recognize that what's more important than being a bear, or a bull for that matter, is to be right.

These guys were wrong.

They should just own it, own the reality of missing Texas Instrument's rally and move on. Better for everyone.

Jim Cramer is co-founder and chairman 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 had no positions in the stocks mentioned.