Cramer said he's also not giving up on two other Action Alerts PLUS names, Xilinx (XLNX) and Celgene (CELG), both of which were down sharply in the day's session as investors were looking for perfection but didn't get everything on their wish lists.
Executive Decision: Martin Anstice
For his "Executive Decision" segment, Cramer dove into the amazing quarter posted by Lam Research by speaking to Martin Anstice, the company's president and CEO. Lam just posted an eight-cents-a-share earnings beat on record revenue and offering analysts bullish guidance to boot, sending shares up over 11.5%.
Anstice said he's very pleased with the results just posted because they stem from three years of hard work and planning. He said Lam's goal has been to outperform the industry and that's what it is now able to do.
When asked how the company achieves its success, Anstice explained that in order to take share in their business a company must integrate both hardware and software to deliver solutions that are far better than everyone else. We all want cheaper products with better performance and better battery life, he continued, and that comes from better chips for both memory and logic. Lam offers the equipment and solutions to make that happen.Cramer said even with the huge move in Lam shares today, he still feels the stock is far too cheap.