Cramer's 'Stop Trading': Microsoft, Citi

NEW YORK ( TheStreet) -- The technology sector is getting steam rolled, but Jim Cramer said during Friday's "Stop Trading!" segment on CNBC that there is no need to panic.

"When you see a complete exit from a sector, it is usually because of a large mutual fund or a bunch of smaller funds," Cramer said.

Cramer did say, however, that he remains concerned about SanDisk ( SNDK), which is a commodity play. He fears there could be price wars.

Qualcomm ( QCOM) had a good quarter, but released horrible guidance, Cramer said. "Qualcomm," he said, "has no credibility."

But the only reason Microsoft ( MSFT) is going down is because of the "vast exodus by mutual funds," Cramer said. "Microsoft delivered."

"You have to let these institutions do what they have to do," Cramer said -- while also nothing that, as valuations get lower, it could be a good entry point.

Cramer's last take on "Stop Trading!" was on Citigroup ( C), of which he remains positive. Cramer said Citigroup does not have a lot of mortgage exposure, other than what's in Citi Holdings unit, versus some of their competitors.

"Citi is going to be 60% international and 40% domestic in 2011 to 2012," Cramer said. "That's what every bank in America wants to be and they are the only one there."

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:



Follow TheStreet.com on Twitter and become a fan on Facebook.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

General Electric Is One Mega-Cap Stock You Must Still Avoid

General Electric Is One Mega-Cap Stock You Must Still Avoid

LinkedIn CEO Talks at Goldman Sachs Tech Conference: 5 Key Takeaways

LinkedIn CEO Talks at Goldman Sachs Tech Conference: 5 Key Takeaways

Oracle CEO Talks Up the Cloud at Goldman Sachs Tech Conference: 6 Key Takeaways

Oracle CEO Talks Up the Cloud at Goldman Sachs Tech Conference: 6 Key Takeaways

Apple's Stock Rally Raises a Huge Question Investors Must Consider

Apple's Stock Rally Raises a Huge Question Investors Must Consider

Google Cloud CEO Talks at Goldman Sachs Tech Conference: 8 Top Takeaways

Google Cloud CEO Talks at Goldman Sachs Tech Conference: 8 Top Takeaways