A Tech Stock, Other Than Apple, That Works

VMware, even near it’s 52-week high, is still a buy, Cramer told viewers during Monday’s Mad Money.

This leader in virtualization software, which lets companies and individuals turn a single machine like a server into multiple virtual machines, reported what Cramer considers the best quarter of July. Not only did VMware beat analysts’ consensus estimates, it beat even the most optimistic analyst’s forecast, called the “Street high.” And the raised guidance for next quarter outpaced what investors were looking for as well.

That’s why Cramer is still bullish – the future looks incredibly bright for VMware. Only 42% of server workloads are currently running on virtualization software, leaving plenty of room for growth. Also, the company is expanding beyond just the big businesses it has served to include small and medium-sized businesses. Sales of its main product for these smaller firms grew by 100%, Cramer said. Plus, new products are on their way.

There are new partnerships, in cloud computing, with Salesforce.com and Google . Cloud computing is the hosting of applications and services on the Web, which is cheaper and more efficient than storing them on individual computers. VMware integrates these different services, and Cramer said a highly anticipated new cloud product from the company is in development.

If you’re too conservative an investor for a high-growth name like this, Cramer recommended EMC instead. EMC, a data-storage name, owns 81% of VMware and controls 96% of the voting power. Though admittedly, EMC doesn’t seem to get enough credit for its ownership stake.

VMware is Cramer’s first pick, though. So much so that he would even consider replacing one of his struggling C.A.N.D.I.E.S.—Chipotle , Apple , Netflix , Deckers Outdoor , Intuitive Surgical , Express Scripts , Salesforce.com—with VMW. Maybe NFLX or ESRX.

“Even though it would totally ruin the acronym,” Cramer said.

When this story published, Cramer’s charitable trust owned Apple and EMC.

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