Reports of the death of tech are completely overblown, said Jim Cramer Wednesday on his
Altucher is bullish on VeriSign ( VRSN), calling it a great growth play at value prices. The company is experiencing 30% annualized growth in its security business, 25% annualized growth in its domain name business (the company owns the .com and .net domains), and he expects growth in VeriSign's mobile content until to take off in 2006. Altucher said VeriSign has $1.4 billion in cash, which it has been using to buy back stock and make acquisitions. In the last two months, the company bought back $250 million in stock, he said, and it is focused on buying small companies that aggregate content for its mobile Internet business, which Altucher expects to start surprising people in the next year. Cramer said Altucher is right. With VeriSign reporting earnings Wednesday evening, Cramer said he would take a position ahead of the earnings report and buy more if the stock goes lower Thursday. Any dip in VeriSign is a buying opportunity, said Altucher.