Jim Cramer's Best Blogs

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Tech: All Talk, No Profit

Originally published on Wednesday, Oct. 1, at 11:09 a.m. EDT

The strange love affair with tech for so many of our readers is a tad unnerving to me. With the exception of Apple(AAPL Quote) and Google and, for a while, Research In Motion(RIMM Quote), for most of this century tech has done nothing, made you no money, created no value.

But the love affair persists, and I find it quite bizarre. What's the point of it? Why do we focus, for example, endlessly on Apple, when for all we know Steve Jobs is sick and the quarter's as bad as RIMM's?

Why do we focus on Google when, after all, it is ad-supported and the ad market is in a severe depression. It is a cyclical decline, so when it gets better, Google will take share, but clearly there are better bargains out there.

Nothing even remotely exciting is happening in tech. Microsoft(MSFT Quote) and Intel(INTC Quote) have been remarkable duds. There is nothing intriguing about Oracle(ORCL Quote). I like Hewlett-Packard(HPQ Quote), but only because it is doing a big restructuring because of its acquisition of EDS, and I believe that Dell(DELL Quote) may be falling apart.

But think of it. What is the case for EMC? For National Semi(NSM Quote)? For Nokia(NOK Quote), other than the dividend? For Corning(GLW Quote)? For Micron(MU Quote)? For Applied Materials(AMAT Quote)? For KLA-Tencor(KLAC Quote)?

I simply do not know what it is other than that the analysts are endlessly bullish and like to move stocks a point or two with their calls.