"hand over fist here," Jim Cramer said Friday on his Wall St. Confidential
Cramer said founder Michael Dell returned to the company "for a reason. The reason is because he can fix it.
"Michael Dell's not Steve Jobs
CEO, but he's very close to it," Cramer told Farnoosh Torabi,
correspondent and host of Wall St. Confidential.
Cramer also said Dell's become a "cheap" stock. He said you have "nine months to buy it," and he believes it's headed to $35 a share. "Surprising it's up only a dollar and change," Cramer said.
Cramer said there was "some gross margin to be gained," which he said surprised him. Also, "the fact that he
Dell can have this headcount reduction tells me Dell is much more fat than I thought." (Dell, which reported quarterly earnings Thursday, also announced that it
would cut its work force 10% over the next 12 months.
Cramer said he now believes that
, which he owns for his
Action Alerts PLUS charitable trust, isn't doing as well lately because Dell is doing better.
"I'm now beginning to think that Hewlett-Packard is performing much more poorly because Dell is doing better," Cramer said. "Hewlett-Packard isn't going to go as high as I thought."
Cramer told Torabi he won't second-guess Dell's plan to sell computers at
. "There are certain people who are P/E makers, and
Michael Dell is one of those, and so is
H-P CEO Mark Hurd. You either trust the man or you don't, and if you don't, get the heck out of it
Dell, he said, is one of the few people whose judgment he won't question. Among other people he "banks with" are Eddie Lampert, despite the fact that
, a stock he owns, had a bad quarter;
Myron Ullman; Mackey Mcdonald at
Polo Ralph Lauren's
Roger Farah, Cramer said.
In addition, he said if Robert Niblock from
or Alan Mulally from
"are making strategic moves, I am not going to second guess them."
Other "game-changers" on his list, Cramer continued, include Neville Isdell from
and Ivan Seidenberg from
At the time of publication, Cramer was long Hewlett-Packard.
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
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