NEW YORK (TheStreet --

Debra Borchardt:

Goldman Sachs ( GS) and Nomura ( NMR) both downgraded Microsoft ( MSFT) based on slowing PC sales. So Jim, no surprise that PC sales are down because of the tablet buying that's been going on, but certainly no one's seeing anyone in their IT departments going to the desks in the offices ripping out their desktops and slapping tablets on the table.

Jim Cramer:

That's a great point Debra, and look, I think that the stock had a couple of good days, and these analysts were all itching to get out of it. Microsoft is a company with a lot of cash, as David Faber points out, with a lot of it is overseas. It has a good yield. It's trying very hard to not just be levered to PCs. Windows 8, these people are already calling a bust. Nomura's Rick Sherlund did say one thing when he said, "Listen, when you get a new PC to come out that can have 10 hour battery life, maybe compete against tablet, compete against cell phone," and I'm not a big fan of Microsoft, but I also don't think it's worth.

Debra Borchardt:

A sell?

Jim Cramer:

No, I don't think it's worth a sell.

Debra Borchardt:

It's in a range, if you're a trader, you could trade that range. It's also got a dividend. I just don't see that it's a sell.

Jim Cramer:

Look, Intel ( INTC) at $21, everybody wanted to sell and then it goes $22 and a half, then it goes back down today. These companies are dividend raisers, not dividend reducers. Microsoft has a lot of ability to do different things. They do have Skype. They do have Xbox.

Debra Borchardt:

Xbox is huge.

Jim Cramer:

Huge. Yes, it's true that there is a decline in the PC universe, but I've been saying that if gross domestic product picks up, you'll see more PC buying at the Enterprise because the Enterprise still wants desktop.I think it wouldn't be down so much, but yet Rick Sherlund, who was known as Mr. Microsoft when he was at Goldman, now he's at Nomura, and Heather Bellini, a very well-respected and deservedly so analyst for Goldman. So let the stock come in. It's not going to rally right now. Maybe the stock goes to $28 on the quarter, but then it starts all over again as people say, "You know, give me something that hasn't moved with a good yield, where the second half might be better, and perhaps this notebook that Sherlund says could ignite sales comes out in the fall and we'll find buyers again, but it's a trading range stock. It's cheaper than General Mills ( GIS). It's cheaper than Eli Lilly ( LLY). It's the same dividend, the same yield. I come back and say, "Well, look, there's really nothing here to hate." It's overly hated all of a sudden.

Debra Borchardt:

Overly hated.

Jim Cramer:

It was overly loved yesterday, overly hated today, that's the binary nature. We were talking about that with Stephanie. We're talking out of Chicago Bridge and Iron ( CBI), and it was loved and it went to $62, and then there's some contract that may or may not be lost and it goes to $55. You have to take advantage of the swings now because there's really not that much to buy unless there's a price discount. You don't go in front of a Shurland sell on this particular quarter but maybe after the quarter, you take a look at it.

Debra Borchardt:

Listen, I think if Microsoft did some price cuts, I think they could jam out this product if they came in at a really sweet spot on their price, I think that would be it.

Jim Cramer:

Right. Windows 8's out. I like the product, but they have to give it away. They have to give it away.

Debra Borchardt:

That's what I was going to say. We have a Windows 8 on the laptop at home. I find it very intuitive. I'm not a hater.

Jim Cramer:

Their tablet, I think is great because they have got to give it away. They've really shown way too much. Let's just give it away. They should say, "I'll charge 50 dollars for it," and get everybody hooked.

Debra Borchardt:

There you go. Microsoft, definitely not a sell but definitely something that a trader could love because it is in a range, and a range you can play.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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