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Jim Cramer's Stop Trading! Buy Costco

09/05/07 - 02:52 PM EDT

TheStreet.com Staff

Buy Costco (COST - Cramer's Take - Stockpickr), Jim Cramer said Wednesday on CNBC's "Stop Trading!" segment.

Cramer said investors shouldn't be discouraged by soft same-store sales numbers out early Wednesday, which sent the retailer's stock down 4% in afternoon trading. Cramer said the company is a great merchandiser -- so sometimes its bets work and sometimes they don't. But every Costco miss "has been a great opportunity," Cramer said, for investors to buy the stock on the cheap.

Cramer also shrugged off comments from Starbucks (SBUX - Cramer's Take - Stockpickr) suggesting that less-affluent customers have been pushed out of the stores by falling house prices and declining home-equity borrowing. Cramer said he questions how much influence those factors really exert on coffee sales, even if a cup at Starbucks does "cost $17 or something."

Cramer said the selloff in Coach (COH - Cramer's Take - Stockpickr) has been "overdone."

Cramer continues to like Google (GOOG - Cramer's Take - Stockpickr) and called Apple's (AAPL - Cramer's Take - Stockpickr) wireless plans "the elephant in the room."

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. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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