Jim Cramer on Starbucks: "I Think You Buy More"

Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer was focused on. A caller asked whether to add to their position after a decline or hold steady. In response, Cramer said:

“I think you buy more. I think that what’s happened here frankly is, is that it did get a little ahead of itself. The turn’s taking a little bit longer, but you know what? It doesn’t matter. We want to own this thing. It’s like, remember when I sold Oracle because I got impatient? I’m never going to forget that ever. And I think those who are impatient [with] Starbucks are making a very big mistake. My faith is in, with Brian Niccol.”

Starbucks Corporation (NASDAQ:SBUX) roasts, markets, and sells coffee, beverages, and food items through its stores, licensed outlets, and retail channels. Cramer mentioned the stock during an August episode and commented:

“The last three coffee bull markets were followed by 50 to 65% corrections. If the current rally behaves in line with the past, that’s going to be brutal. Now that is very good news for Starbucks, another stock that the Charitable Trust owns. Although I gotta tell you, that stock has been made weak by the coffee prices. But there’s so many other factors involved that I think coffee prices are actually a smaller part of what’s wrong with the stock than, let’s say, a lot of other things.”

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Disclosure: None. This article is originally published at Insider Monkey.