Cramer’s Newest Smartphone Play
Cramer has repeatedly touted the strength of mobile Internet and its related companies. It’s a trend on par with the advent of the Internet itself, he said, and the personal computer. Just last week, he offered viewers yet another way to play it – through cell towers.
The lack of necessary wireless infrastructure is causing a bottleneck at these towers. Apple’s iPhone alone has put a serious strain on AT&T’s network, and the bandwidth hogging will only get worse as consumers demand more data, more video and more applications. That makes a build-out all but inevitable.
Enter American Tower . This company builds cell-phone towers and then leases space on them to wireless firms. About 12,000 to 15,000 new towers are expected to go up because of the growing mobile Web, and the US government plans to spend $27.7 billion to finance 2,200 projects as part of the stimulus package. AMT, as one of the biggest players in the business, “is in a great position” to benefit, Cramer said.
But he wanted to know for sure. So Cramer invited American Tower CEO and President James Taiclet onto Mad Money for an in-depth look at the company. Watch the video for the full interview.
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