Cramer's Lightning Round - What Does Japan Mean for Apple? (3/23/11)

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Includes: AAPL, ADM, HD, NOK, NOV, OAS, SGI
by: Miriam Metzinger

Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday March 23.

Bullish Calls

Apple (NASDAQ:AAPL): "Because Apple is so disruptive, any company up against Apple is getting hurt...we are trying to quantify what Japan means for Apple...there might be some short term pain. I'm fine with Apple here."

Home Depot (NYSE:HD): "I think HD is excellent. I don't think people understand that with existing home sales low...you spruce up your home..I think HD is excellent here."

National Oilwell Varco (NYSE:NOV): "This is one of my favorite stocks in the chart book and on the fundamental side"

Archer Daniels Midland (NYSE:ADM): "This is a favorite stock of the government because it does a lot of work with farmers and a lot of work with ethanol...I have to be bullish on it even though I am bearish on the concept of ethanol...I'd rather burn fuel than food...for poor people ethanol is a disaster."

Oasis Petroleum (NYSE:OAS): "I like it a lot...I think it is good...I think the whole energy complex is the right place to be."

Bearish Calls:

Alcatel Lucent (ALU): "I'm not a fan...I'm talking about problems I'm seeing in the supply chain, they have to do with the Chinese slowdown and with a pause in the buildout....sell, sell, sell."

Silicon Graphics (NASDAQ:SGI): "It bought an important Japanese division...that is why it has had a temporary tick down...we don't want to buy this stock after a really good call...we have to find out what Japan means to them...and then we can pull the trigger...we have to quantify it first to see if it has a problem."

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