Tech’s Top Momentum Stock?
Cramer nailed it two weeks ago when it he picked the best momentum stocks in the S&P 500. Case in point: Jabil Circuit.
He laid out a theory that the best momentum names were those that not only ran up in anticipation of an earnings report, but maintained that run after the numbers had been released. It was a small group, just 21 companies out of 500 doing it last quarter, and he picked five favorites among them: Jabil Circuit , Weyerhaeuser , Noble Energy , Goodrich and WellPoint .
Well, look what happened to Jabil. The electronic manufacturing services company on Monday after the bell delivered an earnings beat and offered better-than-expected guidance for next quarter. Now on Tuesday it’s the biggest gainer in the S&P, up 10 percent to a new 52-week high. And the stock still is cheap, trading at just 8.5 times forward earnings in spite of its 12-percent long-term growth rate.
What was behind those numbers? And what does Jabil’s success mean for the rest of the tech industry? To find out, watch the video to see Cramer's full interview with CEO Tim Main.
When this post was published, Cramer's charitable trust owned WellPoint and Weyerhaeuser.
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