On the heels of AT&T’s “excellent” quarter, one driven largely by Apple and its iPhone, Cramer recommended two tech stocks to watch.
When investors think of faster Internet, Akamai Technologies probably comes to mind first. But Cramer thinks they should focus on F5 Networks instead. And if people want a cloud-computing name, Salesforce.com definitely works – “It’s going much, much higher,” Cramer said – but, again, there’s another name to consider: VMware , which just reported a strong quarter itself.
“VMware is not done at $75,” Cramer said, adding that he still likes Apple and thinks that stock should reach $300.
Speaking of Apple , Cramer thinks its iPad tablet is the “Trojan horse” that even the iPhone wasn’t. Why? Because of its growing popularity in the enterprise space. Once Apple gets a strong foothold in the corporate world, he said, companies like Nokia and Research in Motion are “dead.”
Cramer also mentioned that the market seems to be “radically undervaluing” certain companies, namely 3M and Caterpillar , which are performing well even in the face of a lagging US economy.
“Caterpillar is not just sitting around waiting for Ben Bernanke and President Obama to stimulate the economy,” Cramer said. “They’re moving to where the economies are stimulated.”
When this story published, Cramer's charitable trust owned Apple.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the Mad Money website? email@example.com