“This is the most bullish I’ve heard John Chambers,” Cramer said, during his entire CEO tenure at Cisco.
“The rest of the market’s trading as if it’s one big block trade,” the Mad Money host continued, “where someone wants to move $10 billion of S&P” 500 stocks.
But any stock up even slightly on a day like today is still enjoying a “huge move,” Cramer said, and that bodes well for Cisco.
“In other words, Chambers is right,” Cramer said, “and the stock will be higher six months from now.”
Elsewhere in the market, oil futures dropped about $4 on Thursday to just under $73 a barrel. Cramer said he expected prices to hold at $68 to $70.
He also recommended buying Schlumberger, a stock about which the CEO was “very optimistic” after the company’s last earnings report. Cramer urged viewers to take advantage of today’s pullback to buy SLB on the cheap.
“You’re back at a level where I don’t think you have any right to be able to get Schlumberger again,” Cramer said. “It’s that good a story.”
Lastly, Cramer explained that SLB trades not on oil futures but on “big countries deciding it’s time to drill.”
“And they are not looking at the futures,” Cramer said, “even as we are glued to” them.
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