If You Bought Microsoft Stock Ahead Of The Conference Call, Jim Cramer Says You Are One Of The ‘Dumbest People’ He’s ‘Ever Seen’

Jim Cramer has long said to wait to hear from management on conference calls before buying nameswhere guidance is held back. That advice could have savedMicrosoft Corp MSFT investors a good chunk of change following Tuesday's quarterly results.

What Happened: Microsoft reported fiscal second-quarter earnings after the close on Tuesdayand the stock surgedhigher taking several cloud names with it.

Nearlytwo hours after the report was released, Microsoft sharesreversedand turned negative after CFO Amy Hood told analysts and investors the cloud giant saw customers exercise caution throughDecember, which led to weaker resultsand "moderated consumption growth" in Azure.

"We expect the business trends that we saw at the end of December to continue into Q3," Hood warned.

Why It Matters: Cramerindicated that thosewho purchasedshares beforeMicrosoft's conferencecall lack discipline.

"Those people who bought it aheadare some of the dumbest people I've ever seen," Cramer said Wednesday morning during his first take segment on CNBC's "Squawk Box."

Everyone knows that the direction Microsoft shares ultimately end upheadinghinges on comments fromHood eachquarter, Cramer said.

"It's stupidity, and yet it just keeps happening," he emphasized:"I find it rather amazing that people could be so dumb continually."

Check This Out:Microsoft Q2 Earnings Highlights: Redmond Misses On Revenue, Beats On EPS, With Azure Growth

Dennis Dick, co-host of Benzinga's "PreMarket Prep,"didn't fall for the fakeout. He even took to Twitter to warn people ahead of the call.

"What's @jimcramer always say? Wait for the conference call. I think it applies to $MSFT," Dick tweeted.

"Remember that time $MSFTsold off on earnings and then reversed and went higher on the conference call. Keep that in mind tonight," Dick said in another tweetahead of the call.

Benzinga's PreMarket Prep airs daily on YouTube at 8 a.m. ET. The show coverspremarket movers, earnings for the week, economic data and more, featuringprofessionaltraders Dennis Dick andJoel Elconin. You can subscribe to Benzinga'sYouTube channel here.

MSFT Price Action: Microsoft has a 52-week high of $315.95 and a 52-week low of $213.43.

The stock was down 0.80% at $240.20at the time of publication, according toBenzinga Pro.

Photo:Owen Byrnefrom Flickr.