Cramer's Forget Tech Stocks
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Created by barrons2
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Date updated:07-10-2008
"Tech's not in season. Never has been in the summer. It only rallies when oil goes down -- again, I have said what a silly intersection that is -- and when oil's not going down and the truth about IT spending is focused on, you get what you have today. PAIN! Don't forget, tech is a "sell in May and go away" story. I would continue to stay away." - Jim Cramer
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VMW
Vmware - $41.30
- 0.00%
- $N/A
he stunning declines in Cisco (CSCO) and VMware (VMW) and its parent EMC (EMC) remind us that we have been whistling past the tech graveyard for a very long time
-
EMC
E M C Cp - $16.75
- -0.95%
- $16.40
he stunning declines in Cisco (CSCO) and VMware (VMW) and its parent EMC (EMC) remind us that we have been whistling past the tech graveyard for a very long time
-
STX
Seagate Technolog - $15.54
- -2.20%
- $15.50
Think about it --Seagate (STX) at a new low
-
ORCL
Oracle Corporatio - $22.09
- -2.26%
- $22.14
Incredible pain in Oracle (ORCL) after that quarter.
-
NVDA
Nvidia Corporatio - $12.79
- -2.14%
- $12.57
Nvidia (NVDA) on a real blowup.
-
CSCO
Cisco Systems - $23.38
- -1.52%
- $23.09
I find the whole round trip that Cisco made after its lukewarm quarter to be astounding. Here's a company that reported a so-so quarter and so-so outlook and immediately plunged to $23 from the mid-$20s, then rallied to $27 and change on sentiment that the market was too negative on the networker, and now it comes more than full circle to $21 on fears of declining IT spending.
-
HPQ
Hewlett Packard C - $49.07
- -1.96%
- $48.94
You can't blame the fears, VMware's fall from grace has its roots in declining IT spending. So does the drip-drop decline in Hewlett-Packard (HPQ), although I think that's an opportunity.
-
FLS
Flowserve Cp - $100.20
- -2.96%
- $100.16
I want to reiterate that there is nothing really exciting about tech -- hence my focus on new tech, companies like Flowserve (FLS) and Robbins & Myers (RBN).
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