Why Does the Market Hate Semi Stocks?
Cramer said earlier this week that tech stocks not directly related to Apple are struggling to find buyers, though the disregard is probably undeserved. That’s definitely the case for some of the semiconductor names.
- Cramer's Top 6 Comeback Stocks for 2010
Take Xilinx, for instance. Despite reporting a stellar quarter, with both earnings and revenues beating the Street’s estimates, the stock never moved. And the numbers were legit. Sales in key segments were up in double digits, while going forward certain end markets are expected to see sizable growth as well. Plus, the balance sheet is strong, boasting $800 million in net cash.
So while the market may have made up its mind about the semis, and any firm that doesn’t supply Apple , Cramer thinks they are wrong. And Xilinx’s quarterly results are the only proof he needs. That's why he wanted to talk to CEO Moshe Gavrielov, to help Mad Money viewers figure out what's going on. Watch the video for the full interview.
When this story published, Cramer’s charitable trust owned Apple.
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