Still doubt tech? To answer the question, Jim Cramer reviewed the performance of some of the biggest players in the sector on last night's "Mad Money." The verdict? Cramer said to believe the hype.
While some may be asking if this is just a rally in a bear world, Cramer finished the segment by asking if this could be one of the strongest bull markets ever. To review just how good the tech rally is, Cramer went over the year-to-date performance of 10 bellwethers. With
moving the tech sector all day, here are just few bellwether performances to chew on:
is up 43% in 2009. Cramer said ad dollars aren't simply dropping from newsprint and television shows and moving to the web. Those dollars are moving to Google. Too bad investors were moving away from the company on the day, sending shares down $3.15 to $435.62 by the closing bell.
is up 68% for the year. Many took the $4 dollar gas prices as a hint to stay home and shop online last quarter, Cramer said. As a result, not only is the company the market leader, but it's still growing. Amazon shares were changing hands up nearly a percent, or 72 cents, closing at $87.08.
Research in Motion
is going gangbusters, Cramer said, up 102% in 2009 thanks to great sales. Last week, reports came out that Research in Motion acquired
. The company makes GPS technology. Shares of Research in Motion finished the day in positive territory, up 19 cents to $82.14.
But it was
that got the biggest headlines yesterday, both from Cramer and the rest of the world. Shares are up 69% on the year, and for good reason. Yesterday, the company unveiled some new bells and whistles for the newest version of the iPhone -- the 3G S -- along with a new OS.
But it was Apple's gauntlet-dropping move to steal thunder away from others competing in this season of smart phone rollouts that has investors and journalists buzzing. That would be Apple's decision to cut their entry level 8-gig 3G to $99.
Despite analysts raising price targets following the announcement, investors kept the stock mired in the red today. It closed at $142.72, down $1.13 on the day.
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