You know the action in tech on Thursday was bad when Cramer compared it to a Cormac McCarthy novel.
The quarter that F5 Networks reported after Wednesday’s closing bell came in well below Wall Street’s expectations, and that set off a bloodbath of sorts in all things tech. What happened, though, is that the good got thrown out with the bad. Stocks like Skyworks Solutions that didn’t deserve the declines it saw as a result of F5.
Skyworks, which builds power amplifiers for cell phones and smartphones, on Thursday reported a 1-cent earnings beat on a 44-cent basis, with slightly better-than-expected revenues. More importantly, though, the company blew away the Street with its predictions for the coming quarter. Apparently, Skyworks thinks next quarter, a historically slow one, will be strong thanks to demand for 3G and 4G tablets and smartphones. Think Apple’s iPad and iPhone.
So while SWKS took at 5-percent hit on Thursday, the stock has still delivered a 600-percent gain since Cramer’s Dec. 12, 2008, recommendation. He thinks that trend will continue after the hiccup that was today’s trading session. But to make sure, he invited CEO David Aldrich to “Mad Money.” Watch the video for the full interview.
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