Jim Cramer on Seagate: "That's a Great Thing to Be in This Environment"

Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks in focus in the game plan Jim Cramer shared. Cramer showed bullish sentiment toward the stock during the episode and said:

“You want a stock that’s moved up in anticipation of a blowout that could give you a blowout times two? Well, that’s how I feel about the stock of Seagate. Yes, the disk drive company, which is supply-constrained. That’s a great thing to be in this environment.”

Seagate Technology Holdings plc (NASDAQ:STX) develops and supplies data storage solutions, including hard drives, solid-state drives, and external storage products. During the lightning round on September 17, a caller asked for Cramer’s advice on the stock, and he responded:

“Okay, I’m torn about Seagate. I’ve known the company forever… From when it started. Here’s my problem: it sells at 20 times earnings. It’s the number one… I think like top three performing in the S&P 500. But at 20 times earnings, that’s a lot for a storage company. So I would be careful not to buy it at this high point. It’s just had such a big run.”

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