Cramer: Tech Boom Part 2?
may have reported a quarterly loss, Cramer said Wednesday, but its biggest problem was announcing earnings after Goldman Sachs.
“I don't think anyone can equal Goldman Sachs at this point,” Cramer said, because the investment bank has a better book of business and no toxic real estate exposure.
That doesn’t mean Cramer is sour on Morgan Stanley . In fact, he said that he didn’t see any real problems at the company. He expected 2010 to bring an increase in Morgan’s book value as well as the chance to sell unwanted assets. Cramer also said that investors might not understand the goodwill accounting used in the Smith Barney acquisition.
“This is a fine quarter,” Cramer said of Morgan's report, “and I don't think anyone should sell it on it.”
The homebuilders are seeing gains thanks to “some appreciation” in prices, Cramer said. KB Home “looks really great,” and “we’re seeing a turn in Lennar.” He recommended NVR, headquartered near Washington, D.C., as a play on increased government hiring.
Phillip Morris International is “a quintessential growth stock,” Cramer said, but only from business overseas. He called PMI “a great deal,” adding that he likes the 5% dividend yield.
Lastly, Cramer said he think that technology stocks could lead the market as they once did during the dot-com boom. Product-cycle growth and not gross-domestic-product growth drives this sector, and right now the wireless Web is boosting sector bellwethers such as Apple , Microsoft and Intel .
“These companies have explosive businesses,” Cramer said, “because of the long-term secular growth of mobile Internet.”
Cramer's charitable trust owns Goldman Sachs.
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