Jim Cramer: This Tech Stock Is A Buy, Qualcomm Will 'Go Higher'

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Palo Alto Networks, Inc. PANW.

Palo Alto, on July 20, entered into a definitive agreement with CyberArk to acquire the identity security company. Shareholders of CyberArk will receive $45 in cash and 2.2005 shares of Palo Alto common stock for each CyberArk share held for an approximate equity value of $25 billion.

Cramer said Qualcomm Incorporated QCOM is expected to go higher on Wednesday, and then he recommends selling the stock.

On the earnings front, Qualcomm, on July 30, reported third-quarter revenue of $10.365 billion, up 10% year-over-year. The revenue beat a Street consensus estimate of $10.333 billion according to data from Benzinga Pro.

On Tuesday, when asked about Robinhood Markets, Inc. HOOD, Cramer said, “You take out your cost basis, you sell your cost basis tomorrow, and then you can't lose.”

Robinhood, on July 30, reported second-quarter revenue of $989 million, up 45% year-over-year. The revenue beat a Street consensus estimate of $898.95 million according to data from Benzinga Pro.

Price Action:

• Palo Alto shares fell 1.1% to settle at $169.09 on Tuesday.
• Robinhood shares declined 0.9% to close at $105.46.
• Qualcomm shares fell 0.5% to settle at $146.71 on Tuesday.

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