Cramer: Trust Facebook (FB) CEO Mark Zuckerberg's Oculus Acquisition

NEW YORK (TheStreet) -- TheStreet's Jim Cramer says to trust in Facebook  (FB) CEO Mark Zuckerberg after the company's acquisition of Oculus VR for approximately $2 billion.

Cramer believes that Zuckerberg does not want to be like former Microsoft  (MSFT) CEO Steve Ballmer, who famously called the company a two-trick pony earlier this month in a speech at Oxford University. Zuckerberg wants Facebook to have numerous irons in the fire, which is why it bought Instagram, WhatsApp and Oculus.

Cramer notes that people cannot insist that each acquisition be immediately accretive, because then companies would miss out on opportunities. He compares this situation to Google's  (GOOG) $1.6 billion acquisition of YouTube in 2006.

The Street's Stephanie Link also points out that many investors did not understand the Instagram acquisition, and Zuckerberg helped raise Instagram's user base to 200 million.

Finally, Cramer notes that Zuckerberg has a different vision than others and points out that he turned Facebook from mostly a desktop company when it had its IPO in May 2012 into a mobile company just one year later. As a result, Cramer wants to buy the stock at $62.

Must Watch:  Jim Cramer: I Trust Facebook's Acquisition of Oculus, CEO's Plans

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Separately, TheStreet Ratings team rates FACEBOOK INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

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