Cramer Quick Take: There Is No HP Turnaround
NEW YORK (TheStreet) -- The world is moving away from the traditional PC, Jim Cramer told Debra Borchardt at TheStreet.com Thursday after reviewing the horrible quarters reported by Hewlett-Packard(HPQ) and Dell(DELL) .
Cramer said that one of Apple's(AAPL) biggest weaknesses has always been the enterprise. Now, with the iPhone and iPad both making inroads into business, the game has changed. That's why Cramer remains a fan of Apple and owns it for his charitable trust, Action Alerts PLUS.
PCs aren't typewriters and they're not going away entirely, said Cramer. But it's clear that HP's half-hearted attempts at a tablet and its nonexistent cloud strategy have hurt it beyond repair.Dell, he said, is not as bad as HP since the company has more cash on hand. However, over the long run both companies will remain troubled and turnarounds are unlikely.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
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