Cramer's 'Mad Money' Recap: My Mobile Internet Index (Final)
Scott Rutt
NEW YORK (TheStreet) -- "When you get across the board weakness like today, use the opportunity to buy into the themes that are working," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday.
He said today's decline in the market was a gift, and investors need to use the dip to buy into what he calls the "Mobile Internet Tsunami," a multi-year trend that could be as big as the personal computer and Internet revolutions.
Cramer unveiled his new "Mobile Internet Index," a group of 21 stocks that encompasses what he considers the best when it comes to what's needed to make the mobile Internet a reality. Cramer said this index will use today's closing prices, and start at a value of 100, to tracks the performance of these great companies.
Some of the notable stocks in the index include Google (GOOG Quote), the leader in the Web space, along with device makers Apple (AAPL Quote) and Research In Motion (RIMM Quote).
Cramer said the index also needs the component makers, such as Starent Networks (STAR Quote) and backbone providers like Cisco (CSCO Quote), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, and its smaller speculative rivals Ciena (CIEN Quote) and Tellabs (TLAB Quote).
Cramer's index also included companies providing text messaging services, Tekelec (TKLC Quote), and antenna specialists like CommScope (CTV Quote). Finally, Cramer said there will be a need for more storage, and that means Sandisk (SNDK Quote).
Cramer said his Mobile Internet Index is the place to be, especially on weak days like today.
The remainder of the stocks in the index include: Palm (PALM Quote); ADC Telecom (ADCT Quote); Qualcomm (QCOM Quote), which is in his charitable trust; Broadcom (BRCM Quote); NetLogic (NETL Quote); Xilinx (XLNX Quote); Skyworks Solutions (SWKS Quote) RF Micro Devices (RFMD Quote); ON Semiconductor (ONNN Quote); Cypress Semiconductor (CY Quote); and Tessera Technologies (TSRA Quote).
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