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Cramer: Jabil Is A Long-Term Buy

Technology hardware assembler Jabil (JBL), evolved under CEO Tim Main said Jim Cramer. He likes it as a long term buy. He sees the company outperforming the global market this year.

"I like to think of it as one of the greatest performing stocks that nobody has ever heard of. But they are a fabulous assembler and they have moved on to become integral - not to the design but to everything else. You do the design, you give it to them, they make it cheaper, they make it better. Brilliant company. I really like it," Cramer says.

The company assembles PC boards for companies like Apple (AAPL),. But under the direction of Tim Main, it has also moved into other businesses such as healthcare devices and energy management. In addition, Cramer says, they have become much more ingrained into the supply chains of large companies.

"It used to be that you would switch among, there were several of these assembly companies and they were almost interchangeable. We used to talk about Flextron and Celestica and they would all be at war with each other. And Jabil plays at a different level now. They don't lose these customers anymore," Cramer says.

Main has said that the company should outperform global economic growth this year and Cramer agrees. Though some of the business is in a loll, the company has 30-40% growth in other areas including energy efficiency and the health care sector. They are also seeing tremendous growth in the core manufacturing business.

Cramer says the whole telecommunications business has been in a funk with AT&T (T), and T-Mobile, which have stopped spending. When they come back, he says Jabil will get a huge share. "It's a souped up GDP company. In other words, if this is how they do when GDP is soft around the world, you can only imagine how well they are doing," Cramer said.

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