While most technology stocks are awful right now, Cramer on Monday said there are some areas of tech that are "on fire." It seems to get a premium valuation, a tech company needs three strategies: social media, mobile and cloud.
"That's the holy trinity," Cramer said. "That’s what the Wall Street fashion show can’t get enough of because these three areas represent the future of technology."
Google is currently the only company to combine all three strategies, Cramer said. As far as social networking goes, it recently launched Google+. Its mobile strategy includes the "red-hot" Android smartphone operating system. It also has exposure to the cloud by way of its core search business, Gmail through its Chrome Web browser and through Google apps. With strength in these three areas, Cramer thinks this growth stock is worth buying on any weakness.
Apple is another fantastic tech stock, Cramer said, but it lacks the social media exposure that Wall Street loves. It does, however, have a strong mobile strategy by way of the iPhone and iPad. When the iCloud is released, it will have exposure to the cloud. To gain a social media strategy, Cramer thinks Apple should buy Twitter. Being as it's currently valued at $8 billion, he thinks Apple can afford it. Apple needs to make a big deal in this area, so it can stay up-to-date and surpass Cramer's $500 price target.
Microsoft desperately needs to do a transformative deal to get it out of the value camp and into the value camp where all the serious tech buyers reside. While Apple would benefit from buying Twitter, Microsoft can't afford to. It has about $50 billion in cash on the balance sheet and Cramer thinks buying Facebook or Twitter would be a good use of that money. Any kind of deal in this area would help get the stock out of the rut it's long been in, he said.
When this story was published, Cramer's charitable trust owned Apple.
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