Jim Cramer: Credo Technology Is A 'Winner,' Says No To This Tech Stock

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Credo Technology Group Holding Ltd (NASDAQ:CRDO) is a “winner.” “We think that Credo has one of the great growth stories, and I'm not going to back away from it,” he added. Lending support to his choice, Credo, on Dec. 1, reported upbeat second-quarter financial results and issued strong third-quarter sales guidance. The company posted quarterly adjusted earnings of 67 cents per share, which beat the analyst estimate of 49 cents by 36.18%. Quarterly revenue came in at $268.03 million, which beat the consensus estimate of $234.92 million. See Also: Peter Thiel Reported To Me, Says Elon Musk, Calls PayPal Exit ‘Palace Coup’ Fueled By Board Cramer says “no” to SentinelOne, Inc. (NYSE:S) and recommends sticking with names, such as CrowdStrike Holdings, Inc. (NASDAQ:CRWD) or Palo Alto Networks, Inc. (NASDAQ:PANW). On the earnings front, SentinelOne, on Dec. 4, reported upbeat third-quarter financial results but issued fourth-quarter sales guidance below estimates. Also, the company narrowed its FY26 sales guidance below estimates. When asked about Bitmine Immersion Technologies, Inc. (NYSE:BMNR), he said, “Let's steer clear of that.” According to recent reports, the company announced on Dec. 8 that it now owns more than 3.2% of the total Ethereum supply, representing two-thirds of its "Alchemy of 5%" goal. Ciena Corporation (NYSE:CIEN) reported an “amazing” quarter and the stock has “moved a great deal,” Cramer said. “I'm not going to fight you on it.” Ciena, on Dec. 11, reported a quarterly revenue growth of 20.3% year-on-year to $1.35 billion, beating the analyst consensus estimate of $1.29 billion. The American telecom networking equipment and software services supplier reported adjusted EPS of 91 cents, beating the analyst consensus estimate of 77 cents. Price Action: SentinelOne shares rose 0.9% to settle at $14.61 on Thursday. BitMine Immersion shares declined 3% to close at $28.43 on Thursday. Credo Technology shares rose 3.3% to close at $138.57. Ciena shares gained 3.3% to settle at $210.71 on Thursday. Read Next: Wall Street’s Most Accurate Analysts Give Their Take On 3 Materials Stocks Delivering High-Dividend Yields Image: Shutterstock