There is no right for a company to exist just because it has a long history of existing. The tech world is littered with castoffs that thought they had a right to exist: Wang, Digital Equipment, Data General, Burroughs, Control Data, Univac and Nortel. They were storied. They were valuable. Then they were irrelevant, gone, or subsumed for next to nothing.
Right now we are seeing whole companies go away, companies like Research In Motion (RIMM), a takeover candidate but not much more. Like Nokia (NOK), which is apparently trying to sell the equivalent of its family jewels, its headquarters, to stay afloat. And Eastman Kodak may soon cease to exist.
I would go so far as to say that Hewlett-Packard may be suffering a Kodak moment. Why is that so hard to fathom? Like Hewlett-Packard, Kodak used to be one of the most important tech companies in the world, a financial powerhouse with the best cameras, the best printing technology, the best pharmaceuticals and the best chemicals. One by one, it sold of its gems or failed to exploit them, right down to the closing of its innovative printer line. Sound familiar?
I had hopes that I might be able to see a Whitman vision. Instead, reality was distorted -- but in a bad way, not a good one. I'll reiterate: under Obama, under Romney, there is no reason to own Hewlett-Packard.Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV