Publish date: TV Recap: Consumer Still Loves Tech

The talk of an economic slowdown impacting these companies is misguided.

"The worldwide consumer is not slowing his or her buying of tech" Jim Cramer said on TV's Wall Street Confidential

Web video Tuesday.

In the tech sector, some of the companies are being brought down by a false hypothesis, which is that "the slowing in the economy will directly affect their earnings," Cramer said. "That has not been the case," except for


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"because IBM identified its end-client basis."

"Tech is typically product-cycle driven, and the product cycle remains the


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-led product cycle, meaning that Google has become so important that people want to have fast taking of Google, fast downloading of Google, fast downloading of YouTube," he said.

That, in addition to


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new Vista operating system, "is making it so that your back-to-school and your Christmas season will be very bountiful," Cramer said.

If market players go over the


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quarter, they'll see that what the bears were saying about there being a lot of double ordering was "totally wrong," he said. Now the bears have changed their story, which Cramer said angers him because he believes people should own up to the mistakes they make.

"When I make a mistake ... I say I made that mistake," he said. The bears saying that "tech is levered to the consumer, who is strapped and therefore all of the orders are bogus" is a mistake.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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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