Cramer Calls Tech Giant A 'Great' Long-Term Play, But In The Short Term It's Just 'Too Hot'

On CNBC’s "Mad Money Lightning Round," Jim Cramer said British American Tobacco p.l.c. BTI is a "cheap stock. I’ll tell you, I actually like some of the things that Philip Morris International Inc. PM is doing, though. I think that PM has got some good game when it comes to kind of moving off of the tobacco business, that’s what I recommend."

Cramer said he is not a fan of Snap Inc. SNAP. "Just don’t feel it has any game. I’m going to have to take a pass on that," he added.

When asked about Crown Castle Inc. CCI, he said, "These tower stocks, people just hate them. It doesn’t seem to matter that it yields 5.5%, it’s not enough. I’m not going to go reach for a yield. If I do feel that the stock is not doing well, we’re going to take a big pass on that one."

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The "Mad Money" host said Advanced Micro Devices, Inc. AMD can still grow. "It’s got a lot of good things. Plus, I think the PC cycle is bottoming out, and their data center business can get bigger, and they do have some very, very fast good chips," he added.

Cramer said Iron Mountain Incorporated IRM has been a "terrific performer, and it never gets the love it deserves from Wall Street. I think people think it’s too boring. I don’t mind boring when it comes to money."

When asked about BWX Technologies, Inc. BWXT, he said, "I am incredibly intrigued by that company because I like the nuclear business."

Cramer said Myriad Genetics, Inc. MYGN is "profitable. This is just the kind of stock, speculative stock, I do like very much. I think it is a buy."

Meta Platforms, Inc. META actually "fits the description of what I said at the top of the show, which is that I think that long term it’s great," Cramer said. However, in the short term, it’s just "too hot."

Price Action: Shares of Meta fell 1% to close at $281.64, while Myriad Genetics FELL 3.6% to $22.84 on Wednesday. BWX Technologies shares fell 0.1%, while Iron Mountain gained 0.2%. AMD shares dropped 5.7%, Crown Castle fell 0.3% during Wednesday’s session. Snap shares fell 3.3% to settle at $10.23, while British American Tobacco gained 1.6% to $96.35 on Wednesday.

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