When people focus on tech, they always come back to the big Nasdaq names: Dell (DELL) - Get Dell Technologies Inc. Class C Report, Intel (INTC) - Get Intel Corporation Report, Microsoft (MSFT) - Get Microsoft Corporation Report and Oracle (ORCL) - Get Oracle Corporation Report
They also have a couple of
being the most visible but also
Why don't they focus on
? Most tech stocks are well off their highs because of product concerns revolving around the so-called "nothing new" drives (thanks, Vista) or because of overvaluation.
Consider, though, if you will, the case of Hewlett-Packard:
It trades at 13 times earnings with a forward price-to-earnings ratio of 15.
It's a big beneficiary of the semiconductor wars.
It has an unassailable printing and photography business when it comes to digital -- ask Kodak!
Great leadership in the form of Mark Hurd, an inspiring boss who has turned the company around.
I believe that this stock is so close to its highs for all of the reasons above. I suspect that it can go higher without any problem, simply because the valuation is so darned cheap.
This is a stock that has not been pulled down by all the bad news in tech. It is the No. 1 name to go to for hardware.
It is also an excellent place to hide for those who want tech.
At the time of publication, Cramer was long Microsoft.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.