Jim Cramer Says “Dell Can Fall” and Sees a Buying Opportunity

Dell Technologies Inc. (NYSE:DELL) is one of the stocks Jim Cramer answered questions about. A caller noted that the stock has been declining since they bought a position in it and asked for Cramer’s advice on it. He replied:

“Alright, you’re right to worry because a lot of people are concerned that the, that their parts themselves have gone up a lot, and their raw costs are going down. I think Dell can fall from here. I think it can fall, but not below much, maybe 115, 110. And you should buy it because Michael Dell will be in there buying with you, and he is a very smart fella, and he’s not going to let those component costs bother the bottom line too much. The stock is still up for the year.”

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Dell Technologies Inc. (NYSE:DELL) provides storage systems, servers, networking gear, and consulting services, along with laptops, desktops, workstations, and accessories. The company’s stock was part of Cramer’s game plan during the November 21 episode, as he stated:

“I can’t believe how important Tuesday evening is. First, we have Dell Technologies. The betting line here is that the company’s going to stumble because of some raw ingredients, mainly semiconductors. They’ve gone up so much in price during the quarter. I’m not buying it. This is Dell, for heaven’s sake. I’m not worried about Michael Dell and other commodities. I mean, give me a break. He’ll source them right and get them at good prices. I think the story would be about the company still doing terrifically when it comes to the data center and the enterprise. So you need to own the stock ahead of the quarter. That’s a gutsy prediction, probably the most gutsy that you’re going to hear tonight.”

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Disclosure: None. This article is originally published at Insider Monkey.