Jim Cramer: Buy Avnet, Sell Caterpillar, and 2 More Stock Picks
Jim Cramer made the following calls on October 24. What do you think about his picks?
Avnet Inc. (NYSE:AVT): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on August 13. The stock’s 52-week high is $41.77, and its 52-week low is $25.41. Cramer sat down with Rick Hamada, the CEO of Avnet, which posted mixed results for the third quarter: it beat earnings expectations but missed on its revenue target. Hamada said that the technology sector of today’s world truly embodied the meaning of the statement “innovate or die,” saying that it is constantly in flux and ready to leave behind companies that do not adapt. Cramer said that he continues to recommend Avnet, which began the payment of a regular dividend this past quarter.