Jim Cramer's Stop Trading: Buy Hewlett-Packard, Old Tech

NEW YORK (TheStreet) -- Investors who don't buy Hewlett-Packard (HPQ) today are going to be kicking themselves on Monday, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.

On CNBC's "Cramer's Stop Trading" segment, he said that Intel's (INTC) boost to second quarter revenue guidance on the back on increased PC demand bodes well for the enterprise PC business at Hewlett-Packard.

When combined with Hewlett-Packard's job slashes and cost-cutting, increased demand in PCs will lead to earnings leverage, he suggested. 

"HPQ is a winner," as business spending increases, Cramer said, concluding that old technology stocks that are not affiliated with optics will go higher and investors "should buy them."


-- Written by Bret Kenwell in Petoskey, Mich.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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