Stock Market Today With Jim Cramer: Buy the Dip in Old Tech Stocks Oracle, Cisco

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U.S. stocks slid on Tuesday, as a dip in consumer-price inflation failed to help the market.

© TheStreet Stock Market Today With Jim Cramer: Buy the Dip in Old Tech Stocks Oracle, Cisco

Jim Cramer and TheStreet Senior Portfolio Analyst Jeff Marks talked about Oracle earnings and Apple’s stock in this challenging market.

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Oracle and Cisco: Buy Or Sell?

Oracle shares came under pressure Tuesday after the enterprise software giant reported quarterly revenue that came in below Wall Street’s estimates on Monday after hours.

The cloud applications and platform services provider reported non-GAAP earnings of $1.03 a share on revenue of $9.7 billion.

The company had been expected to report earnings of 97 cents a share on revenue of $9.76 billion, based on a FactSet survey of analysts.

Cramer said Oracle along with Dell have been great stocks to own. “They really make people feel like I should just go back to old tech,” Cramer said.

“I wouldn’t be surprised if Oracle is not up by the end of the week because people are looking for something that’s not too expensive. Cisco is not that expensive. They [Cisco] may have to talk about chip shortage but they are very good at sourcing. But in the end it’s really an order story. Investors might want to take a shot at Cisco tomorrow,” he added.

Apple: Buy Or Sell?

Apple unveiled its next generation iPhone 13 in a virtual launch Tuesday, dubbed California Streaming, from its headquarters in Cupertino, Calif.

The iPhone 13 will come in five colors and include what the group calls an advanced dual camera system and an OLED screen display.

Cramer said Apple stock got hit last week and so maybe there’s a chance it can run into a product announcement. “What we’re up against is a soggy market and you cannot get excited about stocks in a soggy market. If I didn’t own Apple right now, would I buy it here? I’m not really interested in buying anything,” Cramer said.

Shares of Apple on Tuesday were down 1.3% to $147.59 at last check.

Apple is a key holding in Jim Cramer’s Action Alerts PLUS investing club. Want to be alerted before Cramer adds or removes stocks from the portfolio? Learn more now.

This article was originally published by TheStreet.

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