Wednesday, January 12, 2011

Jim Cramer Recommends Buying Tech Stocks

"What's driving this renaissance of technology? New product cycles. Cramer said all throughout the 1980s and 1990s, technology stocks roared higher on the heels of new product cycles for first, the PC, then second, the Internet. But after the dot com bust in 2001, Cramer noted, many of those new products dried up, withering even further over the past two years during the financial collapse.

But that's no longer the case, said Cramer, as tablets, along with the infrastructure to support them, couple with social networking, social gaming, video on the web, cloud computing and the rest of the mobile Internet tsunami.

Cramer said as companies leapfrog each other with new technologies and gadgets to win customers, this new product cycle will continue independent of world's economies. 'This is secular growth,' he said, and all of the old lessons of the past decade need to be forgotten."


I happen to agree with his stance.

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