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The Ultimate 'New Tech' Stock
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Web Producer
Cramer’s spent the last few weeks talking ad nauseam about the differences between “old tech” and “new tech.” The former is made up of companies that are focused on making video games better and computers faster. But it’s the latter group of “new tech” companies that are solving the world’s big problems. And these are the stocks that Cramer thinks you should be buying.
On Tuesday’s show, he spoke of a stock called SPX Corp. [SPW
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], which he thinks is the perfect example of new tech.
This company has four divisions: flow technology, test and measurement, thermal equipment and industrial products and services.
Asleep yet? Wake up, because all four of these businesses are at the front and center of very crucial themes. From water pumps that make our food and drinks cleaner and more plentiful to cooling systems that make power plants more efficient to power transformers that make turning on the lights possible, SPX is a company we need, Cramer said.
SPX’s power transformer business is in a particular sweet spot, Cramer explained, because there’s a once-in-a-generation transformer replacement cycle that’s about to happen, as many transformers out there have been in use for over 25 years. And guess what the average lifespan of a transformer is? Thirty years.
Merrill recently called SPX the stock that’s “best leveraged to global power markets in our coverage universe.”
Cramer asked: Doesn’t that sound like a stock you want to own?
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