Get ready because the market could be due for a big decline, Cramer said Monday on Mad Money. That means some of the best stocks can be had at a discount.
Take Cramer’s “Four Horsemen of Tech,” for instance. Apple, Research in Motion, Google and Amazon.com are up 31% as a group since he recommended them back on June 6. Despite the market being down today, each of these four stocks hit new highs. So if there is a drop of about 1% to 2%, as Cramer said there could be, these companies should go on sale.
Apple is up 19% since Cramer formed the group. Steve Jobs’ outfit is up 73% since Cramer named it one of his growth stocks of the year back in January. Apple is “firing on all cylinders,” and iPhone sales are “through the roof,” Cramer said. Also, raw costs have come down, so a lot of the new sales are going straight to the bottom line. The price target: Apple stock could go to $175.
Research in Motion is up almost 72% just since June 6! As Cramer said, RIMM is “mopping the floor with Palm’s Treo.” He thinks the stock makes it to $120.
As for Google , the stock hasn’t moved too much since Cramer made his call in early June: only 8%. Still, he said Google is underestimated by the Street. Now that expenses are under control and search price increases are feeding the bottom line, GOOG should move – all the way to $650.
One quick note: Cramer recommended GameStop on the impending release of videogame phenomenon Halo 3. The stock is up 28% and it’s time to take profits, he said.
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the Mad Money website? email@example.com