Cramer's 'Mad Money' Recap: Top Three Growth Plays for '07

Click here for an archive of Cramer's "Mad Money" recaps.

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Jim Cramer has three growth stocks he believes you should own for 2007, even if you hate risk, he said during his "Mad Money" TV show Thursday.

"There's room in anyone's portfolio for a good growth stock," he said.

Cramer opened with his No. 3 growth stock of the year: Cisco Systems (CSCO Quote).

After spending years as a "dead-end" stock, Cisco has finally come back, Cramer said. And even though it is up big since he recommended it on Aug. 8, Cramer said he expects it to "keep running" the whole year, as it has turned itself into a "consumer-oriented tech stock."

"The Cisco of today is not the Cisco of yesterday," he said.

It's no longer a networking backbone play but has penetrated homes by becoming a major competitor in the triple play (video/phone/Internet) market, Cramer said. After spending some time in the "wilderness," Cisco is back as the No. 3 growth stock for 2007, Cramer said.

(This week, Cramer is issuing his annual market forecast. Click here for his top three value picks, which he offered Wednesday.)

Green Apple

Cramer picked Apple Computer (AAPL Quote) as his No. 2 growth stock of 2007.

Although Apple's up more than 175% the last two years and more than 50% since July, Cramer believes Apple Computer will move higher because "picking stocks is not like flipping a coin." There's no balancing out that occurs, he said. Instead, "winners keep winning and "losers keep losing," Cramer said.