Today's quarterly report proved
dominance over other financials, Jim Cramer said on
"Stop Trading!" segment Tuesday.
This was a great performance in a tough quarter, Cramer said. Goldman did exactly what a sector leader should do in hard times: "buy back stocks and appease all the critics," Cramer said. He believes the bank's shares will earn $30 next year.
Cramer is "reeling" from the fact that people sold off Goldman stock. "This is the worst quarter that I've ever seen and they still made a lot of money. ... Who else is buying stock? Everyone else is offering stock. ... They don't even need the
Meanwhile, Cramer believes
is the telecom to buy, because it's a safe stock that still shows growth. "It's gotten control of its own business," Cramer said, and what really excites him about the company is that "most of this business didn't exist four years ago. ... Who would have thought that kids would watch our programs ... on a handheld
Cramer would buy Verizon over sector rival
. "Comcast is struggling," he said, adding that, because of the difficult market, "I need
Cramer was also impressed with
quarter. He was very surprised at the negativity surrounding the report. "Wait till Friday when
reports," he said. "Best Buy just goes through the roof."
There's no contest in Cramer's mind between the two electronics retailers. "Stocks do stop at zero," Cramer said, and "I can't find a reason to own Circuit City." He called the company a "value trap," and added that Best Buy had a "beautiful quarter."
At the time of publication, Cramer was long Goldman Sachs.
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