During the past two weeks Jim Cramer has recommended several technology stocks. The reasons have been as varied as a market changing technology to the fact that the company has better accounting, but they all have one thing in common – Jim Cramer’s seal of approval:
1. Apple (AAPL): Jim Cramer recommended AAPL 3 days last week. He knows that it will likely bust through its 52-week high very soon, but he thinks it is a great long position. AAPL recently traded at $419.08 a share, near its 52-week high of $426.70. Analysts forecast AAPL to top $498.80 a share within the next 12 months. It has a 16.58 P/E ratio and a $388.52B market cap. Rob Citrone’s Discovery Capital Management has more than $707 million invested in AAPL (check out Rob Citrone’s favorite stocks).
2. Adobe Systems (ADBE): Cramer recommended Adobe last Friday. The driving fore behind the recommendation was Adobe’s launch of the HTML5 technology that enables users to embed video directly in a webpage, as opposed to using a service to provide the video. Cramer did caution that he is recommending a long position in ADBE, noting that the company will not likely receive any large benefits from the new technology until after it launches later this year or early next. ADBE is currently trading at $26.37 a share. Analysts forecast it to go to $31.25 with a year. The $12.94B market cap company has a 14.44 P/E ratio and a 1.83 EPS. Alan Fournier has more than $177 million of his Pennant Capital Management fund invested in ADBE (see more of Alan Fournier’s top picks).
3. ARM Holdings (ARMH): ARMH designs a variety of software and peripherals. Back in February, Cramer said that this stock was a buy because its technology was in 95% of smartphones. Last week, his opinion was unchanged. Even though the stock has been soaring, Cramer is still saying buy. ARMH is trading at $28.12 and has a $12.62B market cap. Paul Reeder and Edward Shapiro have more than $48 million of their Par Capital Management fund invested in ARMH (check out Paul Reeder and Edward Shapiro’s other top picks).
4. Baidu.com (BIDU): Cramer recommended BIDU yesterday. The reason he cited for liking the company was simply it understands the Chinese market and that he likes its accounting. BIDU is trading at $129.39 a share. Analysts expect the $45.15B market cap company to top $192.90 within a year. Ken Fisher’s Fisher Asset Management is a fan of BIDU. It has more than $590 million invested in the company (see Ken Fisher’s top positions).
5. EMC (EMC): Cramer likes data management company EMC. He recommended it on his show last Thursday. The stock has been outperforming the market and Cramer thinks that trend is likely to continue. It is currently trading at $23.80 but analysts expect the stock to hit $30.27 a share within the next 12 months. The $49.15B market cap company is a favorite of Bain Capital’s Brookside Capital. The fund has over $405 million invested in EMC (see more of Bain Capital’s top picks).
6. Juniper Networks (JNPR): Cramer recommended JNPR on last Thursday’s Lightning Round. He likes the networking equipment stock. JNPR recently traded at $21.05 a share. Analysts expect the stock to rise to $26.89 a share within a year. The $11.22B market cap company has a 20.07 P/E ratio and a 1.05 EPS. Bain Capital is also bullish about JNPR. It keeps more than 4% of its portfolio in JNPR (see which hedge fund managers are buying JNPR).
7. NVIDIA (NVDA): Cramer recommended the global graphic cards manufacturer last Thursday. It saw its shipments grow in the second quarter, despite the economy. It also has around 85.5% of the market share for its products. NVDA is trading at $15.30 a share. It has a market cap of $9.24B and a P/E ratio of 17.08. D.E. Sahw is bullish on NVDA. He has more than $21.1 million in the company after increasing his position in NVDA by 17% in the second quarter (check out D.E. Shaw’s top picks).