Microsoft's (MSFT - Get Report) cloud business is "on fire," said TheStreet's Jim Cramer on CNBC's "Stop Trading" segment. And its shares are up Thursday after analysts at Oppenheimer placed an outperform rating on the stock and $62 price target.
Cramer, who is co-manager of the Action Alerts PLUS portfolio, said he likes the Oppenheimer analyst call. He added that too often Microsoft is thought of as just a play on the sluggish PC market.
Exclusive Look Inside:
You see Jim Cramer on TV. Now, see where he invests his money and why Cisco is a core holding of his multi-million dollar portfolio.
Want to be alerted before Jim Cramer buys or sells CSCO? Learn more now.
Cramer said another factor in the equation that investors don't seem to be talking about is the declining U.S. dollar. A lower dollar is great for companies with overseas operations, Cramer explained.