Jim Cramer Says Salesforce, Microsoft Deal Explains Tech Market

TheStreet.com Videos 1:30 mins

TheStreet's Jim Cramer says a very big technology deal tells a lot about what the stock market is going to do, not just the companies - Salesforce.com and Microsoft. Cramer says this deal is not something that could have been done during the Steve Ballmer regime because Ballmer didn't get along with Salesforce.com’s CEO. New Microsoft CEO Satya Nadella is ready to sit down with Salesforce CEO Mark Benioff. Cramer says the deal is important for Salesforce because of its recently-acquired Exact Target division which runs on a Microsoft cloud platform. But, Salesforce stock is not up yet and that is important to note, says Cramer, because he thinks software-as-a-service companies and the Nasdaq have bounced as far as they can. Meanwhile, Microsoft an "old tech" name, is going up. Cramer says he likes old tech over new tech right now.

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