The tech sector is “dispiriting,” Cramer said on Monday’s Stop Trading!, but there are still great tech stocks that deserve to go higher.
He pointed out Hewlett-Packard as a buy even though the stock is down eight points in the last two weeks. Even though tech is one of the most global sectors of the market – with roughly half of tech spending coming from overseas – no one wants to be the one to call a bottom, Cramer said. Why buy Nokia when consumer staples like Pepsi , Coke and Procter & Gamble are ramping?
On Crocs , Cramer said the shoe company’s time has passed. With the momentum having peaked, Crocs “becomes Heely’s , not Nike .”
And on the news that McDonald’s will open coffee bars in some of its storesto compete with Starbucks , Cramer said it was another sign that the hamburger chain is “doing everything right.” Starbucks becomes “quite vulnerable” to McDonald’s now, according to Cramer. He would wait for SBUX to fall to $16 before buying it back.
Jim's charitable trust owns Hewlett-Packard.
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