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Jim Cramer: Sony Is the Company Apple Destroyed


Sony’s (SNE) stock is going down, and it isn’t clear whether the weakness is in the industry or management. The company reported greater than expected losses, and Cramer thinks management is to blame for sticking with outdated methods. Sony was once the company that “destroyed” competitors, “Sony is the company Apple (AAPL) destroyed. Just own Apple.”

While many expected a disappointment from General Mills (GIS), the sales decline of 5% for the company was “shocking, ” said Cramer. He thinks management seems satisfied with no growth and stock buybacks, when it should have moved into the natural and organic category by purchasing WhiteWave (WWAV) or Hain Celestial (HAIN). The healthier options are creating a “Twilight for the Consumer products companies.” However, GIS’ yield means that the stock won’t get sold off, particularly if interest rates remain low and its dividend makes it a bond equivalent stock.

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