A Sign Tech Could Soon Rally?
"Is it time to get bullish on tech," Cramer asked Friday.
The "Mad Money" host noted that Avnet , the world's top distributor of electronic components and major distributor of information technology hardware, reported a solid quarter on Thursday. The Phoenix-based company delivered earnings of $1.10 per share for an 11 cent beat on revenues that rose 16 percent. It also issued upside guidance for next quarter. Being as Avnet sells a wide range of tech products, Cramer wonders if the upside guidance signals that the tech sector might be ready to rally.
Cramer has long used Avnet as a tech bellwether. After interviewing CEO Roy Vallee in January 2010, Cramer realized how powerful the new tech product cycles were and became bullish on the space. By using Avnet as a gauge, Cramer said he was able to nail both mobile Internet and semiconductor stocks. He also benefited from Avnet's stock itself, which is up 35 percent since his interview with Vallee last year.
To learn more about Avnet's earnings and the technology space in general, Cramer welcomed Vallee back to "Mad Money." Watch the video to see the full interview.
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