Cramer's 'Mad Money' Recap: Best Bets on Best Buy

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Three ways to play off the strength of Best Buy (BBY Quote) are Logitech (LOGI Quote), Harman (HAR Quote) and Microtune (TUNE Quote), Jim Cramer told viewers on his "Mad Money" TV show Thursday.

After Best Buy reported "some stellar numbers and blew away its estimates" on Tuesday, the stock jumped from $46 to $52, Cramer said.

"When you see a stock make a big move like that, you'll find pin action," he said. "What Best Buy really moved a lot of [in second-quarter sales] and spoke volumes about was home-theater systems."

The first thing people generally see when they walk into any home-theater store is "a bunch of Sony TVs staring you in the face," Cramer said. But Cramer said he's not going to tell people to buy Sony(SNE Quote) stock here because he doesn't believe marker players will make money off of it now.

Instead, he believes people should get into Logitech, even though it's not directly levered to home theaters. Logitech makes "an incredibly expensive remote control" for home-theater systems and although this is a tiny chunk of the company's revenue, "it's growing fast" and is a high-margin part of the company, Cramer said.

"Logitech's gross margins should be a big focus on its September quarter," he said. "Since the margin on the remote control is so high, it should disproportionately affect Logitech's gross margins and move the stock."

Although it's not the most straightforward play, Cramer believes it could make people some money.

Harman is similar in that 70% of its business isn't related to home theaters, but it makes speakers for home theaters. Since the company's CEO resigned last month and the stock is weaker than it should be, he believes it's a good time to get into it.

Microtune, Cramer's third play on Best Buy, is levered to the home-theater business. It has exposure to the high-definition television (HDTV) market and makes chips that makes it possible to watch TV on cell phones, Cramer said.

It is a high-risk stock, so he recommended waiting to buy it if you're conservative.