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“Selling at 14 times earnings, Cramer called Apple’s stock ‘dirt cheap.’ He thinks it should be higher, especially given its ‘incredible’ earnings results. Yet, some investors don’t think the company deserves its $300 billion market cap and worry about how it will do without Jobs at the helm. Cramer, however, remains bullish on AAPL,” Sandholm reports. “‘Apple is bigger than one man, even if that one man is part Thomas Alva Edison when it comes to inventing, part Henry Ford when it comes to manufacturing and part Sam Walton when it comes to building a retail empire,’ Cramer said.’Jobs has built a deep bench and even without him, nothing can stand in the way of this incredible growth company.'”
Sandholm reports, “Apple is like a rain forest, Cramer said, because everything grows there. Its competitors, on the other hand, are like the desolate Gobi desert. Not much growth to speak of, he said. Given Cramer thinks Apple could earn $23 a share this year, his [new] price target of $400 [up from $325] is relatively conservative. ‘With or without Steve Jobs, Apple is taking over the world and that’s why I’m raising my price target for Apple to $400,’ Cramer said. ‘Hallelujah. Never seen anything like it.'”
Read more in the full article here.
MacDailyNews Take: Here’s hoping and praying that it’s with Steve Jobs.
[Thanks to MacDailyNews Reader “Joe Architect” for the heads up.]
400 is pretty damn conservative. I have over 500 as a target.
Nothing fails like prayer, MDN, so cut that religious crap out, please.
We can only hope that Steve gets best medical care, and there is a cure for what ails him.
Put your Reality Distortion Field to work and get well soon!
You got it right! “Apple is taking over the world”.
Your opinion is just that; an opinion.
I was shocked when he only said $400. I was expecting $450 minimum.
This goes to show you how crazy the stock market is. Apple is already trading at 14 times earnings. It is impossible for Apple (or any major tech company, for that matter) to multiply their growth by 14 times.
Pirat: I’m praying you won’t ever post again here….amen.
@macbill
your lack of understanding is amusing. sorry, bro.
Cramer is the only analist worth listening to… he gets it.
Kiss of death.
Yeah, and how many of the posters here said the VERY SAME THING last year when Cramer predicted $300 before the end of 2010?
I remember distinctly how many of “us” proclaimed that he was out of his mind, that AAPL would never see that kind of price rise.
Well, there’s a lot of crow being eaten around here right now, Mr. Chuck, and something tells me there’s more coming. (Seen Q1’s numbers yet? Apple, Inc., will be America’s first trillion dollar company [in market cap] within this half of the decade. How’s that for a prediction?)
I agree, the Cramer whammy has now been placed at Apple’s doorstep. While the guy is right some of the time…there are other moments that ain’t so right. Remember this was the guy who said “buy, buy, buy” just before the Markets collapsed in 2008.
@piratZafryki
Prayer isn’t meant to be “answered” per se. It’s meant to be heard.
Heard by yourself or others and born of intent. Positive intent alone does have enormous power and the spiritual component of human existence, outside and beyond any human interpretations is simply undeniable. Faith, a belief in something outside yourself and in non-local reality works.
I owned Apple stock in 1997…I had faith in the vision and focus of the company. Just as I have faith today that Steve will come back to robust health. Speaking a prayer out loud, reinforces that faith for me, even if I’m the only one who hears it.
Cramer is a trailing indicator.
the guy isnt right some of the time, he was right for the past two years almost daily. stock picks is a guessing game, but jim c had way to many good calls to still be held upon one bad call unlike other analists who are wrong most ofthe time and are only remembered by a couple of good calls.
@pirat
Praying that you get off this site for eternity.
Alright! Religious flame war. MDN are very happy.
Some said nothing (not even God) can sink the Titanic
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Hoping, yes. Praying?
Belief in a supreme being is so yesterday.
Cramer was wrong when he predicted Stark Industries would go down the pan!
grh! I hear you! (you heard me!). Start praying now!
As an atheist, what’s up with all the hostile atheists? Whenever a person says they’ll pray for someone, I just take it to mean that they are thinking about them, concerned about them, and wish them well in the best way they know how.
Sure, there is an argument that prayer (or wishing) can replace doing and can therefore be negative, and for the future Steves we should make sure our scientific research is well funded from this point forward. But at this time there’s really nothing any of us can do to help Steve. So, wishing him well is the best thing we’ve got. Whether that takes the form of prayer or vibes to the universe or just stated hopes doesn’t matter. It’s all positive and it’s all good.
So, fellow atheists (unless of course, you’re trolls I just fed), ease off for a second. No need to bark at well meaning people.
Cramer: Apple’s stock is ‘dirt cheap – nothing can stand in way of this incredible growth company’
But, but, the recession is going to hit Apple any time now and Android is going to crush the iPhone and iPad. Windows 7 is so good that Mac OS X usage share will plummet. 2011 is the year that Mac OS x will get attacked by malware. Apple is nothing without Steve Jobs.
Microsoft WP7 will …. sorry couldn’t keep a straight face with that one!!
We have heard all of this crap from analysts and bloggers before and Apple has thrived through it all.
You really do have to agree with Cramer, that nothing can stand in the way of Apple.
Except maybe God of course. Wink wink.
@REunson
LOL