Old tech stocks like SanDisk Corporation (NASDAQ:SNDK) and Micron Technology, Inc. (NASDAQ:MU) have been on the upside this year and the stocks didn’t seem to stop at where they are currently. These stocks seem to give tough competition to the beleaguered stock in this segment International Business Machines Corp. (NYSE:IBM).
Jim Cramer in yesterday’s edition of “Mad Money” was discussing various themes for investment and according to him companies such as SanDisk Corporation (NASDAQ:SNDK) and Micron Technology, Inc. (NASDAQ:MU) are turning out to be the gainers in the old tech stock segment. These rise in Desktops and related accessories helped the gain in these stocks.
Coming to SanDisk Corporation (NASDAQ:SNDK), its recent acquisition of Fusion-IO has helped the company and it is trading on upside since then. Few of the analysts have given the stock an outperform rating and looks like it has a bright set of few months ahead. SanDisk Corporation (NASDAQ:SNDK) is the 8th biggest gainer in the quarter and it looks like it would go higher.
Micron Technology, Inc. (NASDAQ:MU) which is a company in same sector is the 3rd biggest gainers of the quarter and all that is because of the strong returns the stock has provided over the past year so far.
“Looks like Micron, the quarter’s 3rd biggest gainer and Sandisk, the 8th aren’t done climbing” , Cramer said.
Cramer mentioned that stocks like International Business Machines Corp. (NYSE:IBM) would cause serious damage to the short sellers to keep betting against them as these stocks are gaining now.
Aristeia Capital and Hudson Bay Capital Management are key investors in Micron Technology, Inc. (NASDAQ:MU) with about 68.5 and 61.8 million shares respectively as of March 31st 2014. Cqs Cayman Lp has approximately 17 million shares in SanDisk Corporation (NASDAQ:SNDK) while the other key investors in the company are Discovery Capital Management and Kensico Capital with around 8 and 6.7 million shares respectively.