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Jim Cramer's 'Mad Money' Recap: I Still Love Google 10 Years On

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NEW YORK ( TheStreet) -- On the 10-year anniversary of Google's (GOOGL - Get Report) initial public offering, Jim Cramer told his Mad Money TV show viewers that he's still a strong supporter of the company and its stock.

It's hard to believe that Google came public at a split-adjusted price of just $42.50 a share. But it's even harder to understand why so many analysts and investors have under-estimated Google and what it's truly capable of doing. Cramer called the perpetual pessimism surrounding Google a "failure of imagination" that has persisted for the entire decade the company has been public.

Read More: 10 Stocks George Soros Is Buying

Whether it was competition from Yahoo! (YHOO) or Microsoft (MSFT) , the inexperience of Google's founders or fears of a second dot-com bubble, Cramer said the skeptics have been wrong about Google at every turn.

But Cramer said he's always been a fan of Google, which is why the company is one of the largest positions in his charitable trust, Action Alerts PLUS. With the company's percentage of the advertising market still growing, he continues to be a steadfast supporter, saying Google's stock is still cheap versus the earnings estimates looking forward.

Buying Retail

In an amazing turnaround from just last week, Cramer said the decline in the retail stocks may indeed be over thanks to a monster day of earnings that has reinvigorated the group.

Cramer said he was worried about Home Depot (HD) going into the quarter, but admitted the company has gotten its mojo back after a weak spring. It turns out the bulls in Home Depot were too conservative and this stock has more room to run.

The same for Urban Outfitters (URBN) , which ended the quarter with not only strong sales but also low inventories, news that caused analysts to reiterate their buy recommendations.

Even lowly TJX Companies (TJX) was able to get its shares rallying 8.6% on the day thanks to a 2% rise in same-store sales. Cramer said this stock is also not done going higher.

Still other earnings surprises included Costco (COST) , a stock on which Cramer said he had gotten too negative, and Dick's Sporting Goods (DKS) , which continues to take market share from its rivals.

Read More: For BHP Billiton, Breaking Up Isn’t Hard to Do

Cramer said all of these upside surprises only goes to show how Wal-Mart (WMT) and Target (TGT) are losing share and are no longer the bellwether stocks to gauge the retail sectors.

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