This column was originally published on RealMoney on Jan. 19 at 10:26 a.m. EST. It's being republished as a bonus for TheStreet.com readers.
The new tech complex --
-- is on the move again, and I keep wondering when these stocks will get the respect they deserve.
I sit here all day and listen to
. Admittedly, AMD is kicking Intel's butt, but let's understand that you need to be levered to the new devices, the new hardware and the new broadband and Internet facilitators. Of these, I would take a barbell approach: Own some Conexant with some Broadcom, own some JDSU with some Qualcomm. That way, you get the benefit of turnaround mojo with consistent earnings.
Last night on "Mad Money," I got still one more caller asking why JDSU is going up. I also got stopped in the street twice about whether Conexant is for real or whether I'm just hyping it because I like it. (There's an oxymoron.)
JDSU is a legitimate turnaround/diversification story with an excellent test and measurement business that is moving manufacturing offshore rapidly. The fact that it is doing a 10-for-1 reverse split, while irrelevant to me, will matter when it reports because of the round-down problem that it currently has on its gigantic share base. That's just optics, but it is an optical company!
Conexant just simply has the right products for the broadband explosion. I believe you have to understand that when you see all of these new gadgets reviewed; they've got a lot of Conexant stuff in them. I believe Conexant's earnings -- due out Jan. 25 -- will be terrific.
Don't sweat this stuff, though. These stocks go down in unison and you buy them on those days when the market throws out all of the techies because of the
poor management at Intel.
Wait, another time will come, perhaps next week when
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At the time of publication, Cramer was long Qualcomm and Intel.
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