Jim Cramer likes Avnet, the world’s No. 1 distributor of electronic components–and a pretty big seller of services too. CEO Rick Hamada was all calm good news on a call with Cramer during Mad Money. Cramer thinks it’s a “renaissance moment for tech”– but is Europe going to participate, he wondered aloud? Looks like it, somehow. Even with the exchange rate trouble a company like Avnet has, it’s firing on all cylinders.
“The Internet of Things plays into Avnet’s strength,” Cramer concludes. (Hamada is happy to agree!) Plus even as China’s growth slows, Avnet surprisingly has had a “flood of orders from Asia.” And, as Cramer gleefully told Hamada: “Your European business is killing it.” Cramer may not like Avnet as much as he likes Twitter. Avnet’s not an obvious takeover target—and M&A is the big game in 2015 according to many. But for a standalone in the tech sector, Avnet looks solid. Not only is Asia good but a strong concentration in Europe around less volatile countries like Germany are a strong element in Avnet’s outlook. Cramer has faith.