Jim Cramer Calls Qnity an “Unheralded Semiconductor Play”

Qnity Electronics, Inc. (NYSE:Q) was among Jim Cramer’s stock calls on Mad Money as he discussed how semiconductor and AI infrastructure stocks are driving the market higher. Cramer expects a “strong set of numbers,” as he said:

Searching for an unheralded semiconductor play, I got one here. It’s called Qnity. Yes, Qnity Electronics reports Tuesday morning. This spinoff from DuPont makes materials that are integral to all kinds of semiconductors. The stock’s had a big run, but I think we’re still going to get a strong set of numbers that might justify the move.

Photo by Nicholas Cappello on Unsplash

Qnity Electronics, Inc. (NYSE:Q) provides materials and chemical solutions used in the manufacturing of semiconductors and electronic components. Cramer mentioned the stock during the April 27 episode and stated:

After today’s pullback, the SOX is up 46% above its 200-day moving average, not perfect. At the end of February 2000, SOX was up 96% from its 200-day moving average. Alright, we’re not even half as overextended as we were back then. So I, look, I’m concerned too, okay? I don’t like rapid moves, I don’t like parabolic moves, and lately we’ve seen a lot of parabolic moves all over the market, and those are worrisome.

I don’t want to overreact, but we’ve been taking some action around the edges for the Charitable Trust on the sell side… For example, last Thursday, the Charitable Trust trimmed some of its position in Qnity Electronics. That is a DuPont spinoff that makes specialized materials for semiconductors, and it rallied 30% from March 30th to April 23rd. No, too fast.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.