Jim Cramer Is Watching Cisco as It Prepares to Post Q3 Results Wednesday

TheStreet's Jim Cramer is keeping an eye on shares of Cisco (CSCO) as the company prepares to release third quarter results after the close Wednesday. John Chambers will lead this last earnings report as CEO. The company received positive notes Tuesday but Cramer says he doesn't like that because he doesn't want expectations to be raised. He credits Cisco as being the first company to see a turn in Europe. Their numbers are very strong all over Europe but we need to see a bit of a turn in Asia. Cramer says this is a stock you want to own, don't trade it. He says the stock is an inexpensive technology play and they have figured out the Internet of Things better than any other company. He says John Chambers, who will continue to serve on Cisco's board of directors as executive chairman, is leaving the company in terrific shape for incoming CEO Chuck Robbins. Cisco is a core holding in Jim Cramer's Action Alerts PLUS charitable trust portfolio.