Jim Cramer has featured Red Hat in his CNBC show Mad Money yet again. On July 21, 2011, Cramer interviewed Red Hat CEO Jim Whitehurst to talk about the growing trend of cloud computing in the information technology marketplace. More organizations are moving toward a cloud computing environment, storing data and applications over the internet and relying less on their own hardware environment. Cramer highlights significant information to show Red Hat’s expertise in providing the cloud computing service to customers.
- Linux makes up 22% market share of the physical computers
- Linux makes up 80% of the market share for cloud computing
- Red Hat is the largest player in the Linux space providing over 60% of the market share
Red Hat CEO Jim Whitehurst explains the company continues to thrive and utilizes diverse products to meet customer’s needs. Cramer states, “(after) picking up the paper yesterday, its says the US has closed 800 computer datacenters, they are going cloud.” Whitehurst comments that this creates an incredible opportunity for Red Hat working in the federal space, helping the federal and state government take advantage of cloud computing that is already hot trend in the private sector. Red Hat has an entire team in Washington DC working with the federal government and military branches.
Jim Cramer concludes that he spends his time having Whitehurst explain Red Hat’s products because it is a great stock. Click this link to view the entire CNBC Mad Money interview with Red Hat CEO Jim Whitehurst as he speaks about Red Hat’s relationship in the federal space and other interesting organizations like DreamWorks.
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