With the first heavy week of earnings underway, "Mad Money" host Jim Cramer will look for results from two companies on Wednesday. Both Qualcomm and American Express will deliver earnings after the close.
To start, Cramer plans to listen to Qualcomm's earnings conference call, which is scheduled for 4:45 p.m. Eastern Standard Time. The San Diego, Calif.-based technology company makes semiconductors, among other products. Cramer likes Qualcomm because it's reportedly a big supplier to Apple.
When Apple released its newest iPad in March, a California gadget-repair firm bought one and quickly took it apart for a Web blog. The firm, iFixit, said the device uses chips made my Qualcomm, among other semiconductor makers. It includes a Qualcomm LTE cellphone chip, as well as a Qualcomm wireless modem for 3G and 4G.
Should Qualcomm's stock drop another point or so, Cramer recommends investors buy some shares ahead of earnings.
Meanwhile, American Express is also scheduled to deliver earnings after Wednesday's close. The New York-based company provides charge and credit card services worldwide. Typically, its stock gets hammered when it reports and then rockets higher a few days later, Cramer said. He looks forward to seeing how it does this time around.