Bank of America downgraded Caterpillar in the middle of one of its mining projects. Cramer thinks this was a good call, because mining is weakening. Copper is also falling and iron ore has peaked. Cramer pointed to the lackluster performance of Cliffs Natural Resources. “Now is the time to get out of Caterpillar, ” he said on CNBC.
Palo Alto Networks reported an “amazing” quarter, said Cramer who thinks it is the best cybersecurity stock, and is taking market share from Cisco. Palo Alto is one of the few companies that manages to spend generously and still make money. Cramer has predicting since the stock was at $60 that it could see $100, and not it has reached $100.90