This column was originally published on RealMoney on June 16 at 9:12 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.
Feels like old home week.
in the news for Bill Gates' retirement. People wanting to call the bottom in
The Wall Street Journal's
Heard on the Street column.
announcing "stunning" earnings increases.
talking the other day about getting its groove back. We've already seen article after article about
Yada, yada, yada.
I have to tell you, the amount of time and energy spent on these companies versus their prospects and growth is ridiculous.
I would much rather spend the time talking about the next generation of techies than about these guys.
Who should the media be focused on? How about the fast-growing companies, companies like
, or how about
, companies that are really growing and really raising earnings and revenue rates? Everyone's so captured by the old that it's "Who needs the new?"
I could not believe how important everyone thinks it is that Bill Gates is stepping down two years from now, especially because Steve Ballmer's been running the company. I could not believe how more people weren't focused on the company's incredibly lackluster performance -- five-year lows, for heaven's sake.
I chalk it up as another sign that the media simply can't get you where you need to be as a good investor because much of the media is made up of people who could care less about investing and just regard the news as something to report, like baseball scores, without the analysis. They rely on guests to do the analyzing not because they
better but because they just don't
The more we focus on these old-line techs, the more it feels like what happened to
in the last decade. We stopped caring about IBM as a stock long before the media stopped caring about IBM, the company.
Don't be snookered. Maybe there is a bottom in Intel, but if that's the case, I would sooner own
, which has more momentum. You want software? I would give you Citrix and Network Appliance over Oracle and Microsoft any day. If you really need Dell, I say, "Go to
." And if networking is your game, I just can't help you.
For a video presentation from Cramer on how to approach the market after Thursday's big rally, click here.
At the time of publication, Cramer was long Microsoft, Network Appliance, Citrix Systems and Qualcomm.
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