Buy Cypress Semiconductor At $14 - Cramer's Lightning Round (10/2/18)

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Includes: CRM, CY, LRCX, NBLX, NTNX, PDCO, PFPT, PYPL, SQ
by: SA Editor Mohit Manghnani

Summary

It's the right time to buy Proofpoint.

Lam Research has not bottomed yet.

Midstream stocks are under pressure.

Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Tuesday, October 2.

Bullish Calls

Proofpoint (NASDAQ:PFPT): Many feel that Microsoft is competing against Proofpoint, but Cramer thinks it's the right time to buy.

PayPal (NASDAQ:PYPL) and Square (NYSE:SQ): Both PayPal and Square are fintech but they cannot be compared. PayPal is a great long-term story and Square is expensive and good as well.

Cypress Semiconductor (NASDAQ:CY): It doesn't deserve to go down so much. It's a clear buy at $14.

Bearish Calls

Lam Research (NASDAQ:LRCX): Cramer got negative on the stock as DRAM chips were oversaturated. The stock has not bottomed yet.

Patterson Companies (NASDAQ:PDCO): The dental business has cutthroat competition. Don't buy.

Noble Midstream Partners (NYSE:NBLX): Cramer does not like the midstream group as the risk is high and yields are low.

Nutanix (NASDAQ:NTNX): Entire cloud cohort is under pressure and this is not the right time to buy. Wait for them to come down and Cramer prefers Salesforce (NYSE:CRM) from the group.

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