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NEW YORK (TheStreet) -- The nerds have taken over the markets, Jim Cramer said on Mad Money Thursday. Yes, those uncool companies that were all but left for dead last quarter are now back in charge and are leading the markets higher.
Most notably, Apple (AAPL), a stock Cramer owns for his charitable trust, Action Alerts PLUS, is back in the saddle, proving the skeptics wrong as growth returned, sales in China were on fire and shareholders are being rewarded with a big buyback and a 7:1 stock split. Two other tech "nerds," Lam Research (LRCX - Get Report) and Texas Instruments (TXN), also surprised Wall Street, ending the day sharply higher.
In the biotech space, AstraZenca (AZN) and Zimmer Holdings (ZMH) were standouts while the "uncool" stocks of McDonald's (MCD) and Stanley Black & Decker (SWK) also both sprang to life without warning.Cramer called out DR Horton (DHI), Timken (TKR) another Action Alerts PLUS holding, and Caterpillar (CAT) as three more examples of stocks that are suddenly back in fashion. Who's not in fashion? How about the now-uncool Under Armour (UA), a stock that had been up 25% for the year but today fell 7.3%.