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Rejecting Tech: Advanced Micro Devices (NASDAQ:AMD), Intel (NASDAQ:INTC), Texas Instruments (NASDAQ:TXN), Qualcomm (NASDAQ:QCOM), National Semiconductor (NSM), Marvel (NASDAQ:MRVL), MRV Communications (NASDAQ:MRVC), Apple (NASDAQ:AAPL), Symantec (NASDAQ:SYMC), Rackable Systems (RACK), Brocade Communications (NASDAQ:BRCD) and EMC (NYSE:EMC), Research in Motion (RIMM)
Since it is mid-January, Cramer tells investors that it is time to get out of tech, with a few notable exceptions. The tech businesses that are particularly troubled are cell phones, handheld products, storage stocks, semiconductors and software. Many of these companies are plagued by competition, which is a more destructive force than the calendar. It is for this reason Cramer suggests staying away from Intel and AMD, which are locked in a fierce price war, and he thinks that even the Vista launch will not propel these stocks. Cramer would also sell TXN, QCOM and NSM. However, he would stay with MRVL which is levered to Apple's iPhone. He also likes MRVC because it is poised to spin off one of its divisions. On the other hand, Cramer said that Symantec was a "disaster" and that it had "one of the ugliest preannouncements that was never supposed to happen." He would also stay away from storage companies RACK, BRCD and EMC. Since the handheld trade is "dead," Cramer would unload Research In Motion.
Related: Trey Wasser says that storm clouds are on the horizon for Rackable Systems.
Playing for Keeps: Cisco (NASDAQ:CSCO), Apple (AAPL), Hewlett-Packard (NYSE:HPQ), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Level 3 Communications (NYSE:LVLT)
Cramer said that some tech stocks transcend the calendar with "blowaway earnings" and great products. He would stay with CSCO, AAPL, HPQ, GOOG and MSFT or buy them on weakness. Although investors may be tempted to cash in on CSCO, Cramer says that CSCO has a "product-driven story that cannot be denied," its competitors are out of the picture and its three downgrades have taken risk out of the stock. Apple reported a strong quarter, gave "ridiculously low guidance" and should continue going up because of the iPhone, according to Cramer. MSFT's dip is a "big fat gift," and Cramer calls Vista the "single most awaited product story in years." He anticipates a big upside surprise with Google and calls it the best internet stock. For a good speculative internet play, Cramer recommends LVLT.
Related: Ant & Sons predict that Cramer's endorsement of LVLT will bring more upside.
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