AT&T is also a buy, Cramer said. Despite the data bottlenecks caused by Apple’s iPhone and a potential loss in revenues from the addition of voice-over-Internet Protocol applications on its networks, T still offers a hefty 6% dividend yield. If the economy rebounds, investors will see the share price appreciate. In the meantime, Cramer said, they can collect that payout.
Google was up $15, or 3%, after bullish comments from CEO Eric Schmidt that the ad-spending recession was over. Cramer was hesitant to recommend the stock, but he did call Schmidt “probably the least promotional CEO in America.”
Lastly, ConocoPhillips has climbed five straight points, boosted in part by news that the company’s increasing its dividend and an overall strength in oil. Still, Cramer called the stock “too high.”
“People are being too foolish buying it at this price,” Cramer said. “Wait until it comes in a little.”
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