Do investors need to worry about downgrading the mobile Internet Tsunami to a mere tropical storm? On Wednesday QUALCOMM, an integral part of the smart phone revolution, gave dismal guidance. Cramer thinks QCOM is just off their game. Yesterday, on the other hand, Cramer heard from the tech distributor Avnet, that they’re going bullish in the first quarter of 2010.
Today, Cramer consulted with another vital company to the mobile Internet, Cypress Semiconductor. This stock has given tremendous gains and is up 150% since Cramer recommended it at $4.04 on September 26 of 2008. CY makes chips for all kinds of handheld devices, including digital cameras, notebook computers, imaging sensors, and a type of static semiconductor that’s faster and more expensive than standard dynamic memory. Also, it makes controllers for mobile phones, PDAs and cameras. The fastest growing product for CY is a controller for touch-screens in cell-phones which is being actively designed into eight of the top ten-handset buyers. Cramer said this company has smart phone revolution written all over it.
And yesterday the company reported earnings of 16-cents a share, beating Wall Street’s consensus by 11-cents better than expected revenues. Also CY reported better than expected guidance for the first quarter of 2010 and said customers are providing increased booking visibility into the first and second quarter of this year.
Cramer talked with the CEO of Cypress Semiconductor T.J. Rogers about their great quarter and the future of the company. Watch the video to see the full interview.
Cramer's charitable trust owns QUALCOMM.
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