All week on "Mad Money," I am focusing on the companies that make things, real things, real businesses that create. Manufacturers. Exporters. Skillful craftsmen that people think we don't have anymore.
It hit me last night as I interviewed the legendary Sandy Cutler that these are the new technology companies. These are the ones with double-digit organic growth that are proprietary. I challenge most of the technology companies out there to get better growth than Eaton
(ETN)
.
Not only that, it is doing significant things that we used to expect from technology. As the tech companies try to develop better semis to make cameras or better flash to store songs, Eaton is trying to cut the amount of fuel and emissions that truck engines use with its electric-based engines -- and it is succeeding.
That's real technology.
Eaton is also developing circuits that allow much better individual monitoring of energy use for apartment buildings and offices. We need to figure out who is using more energy than others so we can come up with conservation methods that work.
There's tons of other innovation happening at this 10-times-earnings stock. Nobody had that kind of growth for that low a multiple in tech.
Eaton is not alone. I have a bunch of them.
Sometimes I wonder whether all of those people who keep waiting for tech, away from Apple
(AAPL)
, to come back, recognize that other companies, as diverse as Eaton or, say, First Solar
(FSLR)
, are really solving today's problems and not just trying to make better gadgets or better phone equipment or better devices to talk to other devices.
That's how, I believe, they lost their edge.
Maybe.
At the time of publication, Cramer had no positions in stocks mentioned.Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC.
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