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"Texas Instruments Shows Why Tech's Right"

By Jim Cramer
RealMoney.com Columnist
12/11/2007 7:22 AM EST


"In the midst of the Fed morass, where the quarter-point/half-point fight rages, I need you to think of tech.

Tech can survive with either, tech can prosper with either.

I say that because of the Texas Instruments (TXN - commentary - Cramer's Take - Rating) call last night.

One of the things that has been most exciting about this moment is that there has been no real let up in tech worldwide. And by the way I still insist that Cisco (CSCO - commentary - Cramer's Take - Rating) quarter was not that bad and the emerging growth and financial services businesses aren't enough really slowing or are slowing less than people think.

We have had so much that is good in tech, from drives to semis in the PC to Microsoft's (MSFT - commentary - Cramer's Take - Rating) numbers to Apple's (AAPL - commentary - Cramer's Take - Rating) demand that I think people forget that in the midst of the 2:17 action it remains the go to place.

Last night's Texas Instruments call confirmed that. The company's in enough businesses to say that their November and early December snapshot is worth its weight in gold and that snapshot says that there has been no let up, and if anything there has been an improvement in business. TXN's stuff goes in everything from cellphones to big screen TVs, both of which we have been worried about because of concerns from Nokia (NOK - commentary - Cramer's Take - Rating) about pricing and from concerns that the consumer may not be able to afford big screen TVs, something that should have been allayed by Goldman's excellent Best Buy (BBY - commentary - Cramer's Take - Rating) note.

TXN's a great representative of the moment. I think that whatever happens this afternoon can not counter and may augment tech and TXN gives you the cover to be emboldened enough to not worry about preannouncements as we get into the heart of what was once tech preannouncement season.

Random musings: Sorry, but I think KBW is a little late in upgrading Mastercard (MA - commentary - Cramer's Take - Rating) up here even though I like the story on fee raises in 2008. Bear's upgrade of UBS (UBS - commentary - Cramer's Take - Rating) makes a ton of sense to me because that situation represents the premier money management company in the world that has now cleared the decks of subprime. "

(in www.realmoney.com)