“Consider it the largest supermarket of tech in the world,” Cramer said.
Avnet has broad exposure to many of the sub-themes that go into the mobile Internet tsunami because it’s the distribution channel for tsunami plays, like Xilinx , Analog Devices and ON Semiconductor . Also, the company works with Hewlett-Packard , IBM, and just recently it signed an agreement with CiscoSystems to distribute data center products in North America.
The company is expecting a 6.4% annual growth in the markets it sells into over the next three years. The quarter was good and made Cramer think favorably about the future of tech. So why did Avnet stock sell off? Was it brought down by today’s generally miserable action or was there something more specific? To find out more Cramer talked with Avnet’s CEO Roy Vallee. Watch the video for the full interview.
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