“If ever there was a stock that confounded investors, it’s Apple. With earnings beating estimates but revenue falling slightly short, Jim Cramer reveals what every investor must know,” Lee Brodie reports for CNBC. “The results and the subsequent price action [down $53.79 (10.46%) to $460.22] seem to confirm what Cramer has suspected for quite some time. ‘Without Steve Jobs, Apple is just another stock, it’s not magical anymore,’ said Cramer. ‘But that’s okay,’ he added. ‘Just because it isn’t magical doesn’t mean it’s automatically a loser, especially considering how cheap the stock has become after this shellacking.'”
Brodie reports, “However that’s not to say Cramer thinks the Apple stock is a buy – he doesn’t. He simply said, ‘It’s time to accept the fact that Apple’s a decent stock the way IBM is or Johnson & Johnson is.’ No more and no less. ‘One thing’s for certain,’ Cramer added. ‘”Neither you nor anyone else wants to hear that Apple is fine, that it’s inexpensive even after this quarter. That it has huge flexibility with nearly $40 billion in cash – and that things will work out fine. This stock is way too emotional and even though that’s exactly how I feel, the coliseum wants red meat.'”
Brodie reports, “All told, there are plenty of reasons to sell. But – the stock is relatively cheap and that’s a good reason to buy. As a result Cramer added that perhaps the best thing an investor can do is just forget about Apple, all together. ‘It’s become the equivalent of an eclipse that you can’t stop looking at,’ he said. ‘Before long your retina’s burned out and you can’t see anything that’s actually worth seeing.'”
Read more, including Cramer’s reasons why the selling pressure may endure, in the full article here.
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After posting new all-time record revenue, Apple shares collapse in after-hours trading – January 23, 2013
MacDailyNews presents live notes from Apple’s Q113 Conference Call – January 23, 2013
Apple reports record results: $54.5 billion revenue, $13.1 billion profit, $13.81 EPS – January 23, 2013
Douche.
Without a brain, Cramer is just a bit player from the Wizard of Oz.
That is a true enough statement in and of itself. Steve generated excitement during product launches and the possibility of ‘one more thing’ around the corner.
Without Steve, product launches have become mundane. They’re still professionally presented, in fact better than any other company’s product launches, but the fizz seems to have gone, and this seems to be reflected in the stock price.
I’m looking towards $450 before loading up.
Companies and stocks are about a good story. Steve Jobs told AAPL’s story very well and helped investors believe in the company. This ‘other guy’ running Apple now is very good at running the company perhaps but he fails to tell the story in a convincing way. Tim Cook could have done very well at selling sugar water.
Not true. “… nearly $40 billion in cash …” is about $100,000,000,000 short! If Cramer doesn’t know that Apple has about $140 billion in the bank then he doesn’t understand AAPL or the Apple company.
Everyone here seems to forget that this is stock speculation not investing. Speculation looks for a quick buck. PERIOD.
Investors are looking for a solid company that grows.
Speculators will buy a stock, take the dividend, and sell the stock on the next uptick. There is no concern on how well the company is doing. STRONGLY STRESSED Amazon is a great stock for the speculator. No matter that its PE is 2000 and its losing money. People make money selling and buying its stock. Speculating. When it crashes and investors lose everything, speculators will walk away having sold on the crash.
The stock market today is NOT ABOUT INVESTING. Its about speculating on how big and fast the bubble will grow and how quickly it will pop. PERIOD.
Just a thought.
Buy! Sell! Buy! Sell! Buy! Buy! Buy! Sell! Sell! Sell! The greatest stock ever! SELL!
~ j cramer
Exactly
Cramer should be charged with stock manipulation.
Oh buy the way, BUY BUY BUY!!!!
Translation: Cramer has shorted AAPL
This narrative was written and filed for future use while Steve was still alive, this is the first chance the experts (sic) have had to use it.
Apple has not changed, the idiots who call themselves Anal-ists have gone off the deep end. They buy crap like google and sell off Apple who makes twice as much profits and better products.
The problem is apple makes the profits not the brokers.
The way they make money is on commissions and getting clients to sell after they have pumped up the stock.
The fact is that this game is not about performance it is about the perception that a stock will grow.
Cramer is an entertainer. Nothing more or less. He has a tv show. A show needs viewers. Viewers tune in for entertainment. Cramer does his best to deliver.
Anyone who takes anything this man says seriously deserves it.
He sure is loud.
Cramer is right. Steve Jobs was the face of Apple and using an Apple device meant Steve Jobs and all his sincere excitement was right in there.
In my opinion, Apple needs to be creating new exciting things for the excitement to follow and I hope in time, it will deliver. Cook isn’t the best presenter either. I think he should have Jony do the presentations.
Apple is still the hottest tech company and still blows the doors off anyone else out there but Apple has 2 problems:
1. Too many copy cats (thank u samsung) diluting the uniqueness and allure of an Apple device and,
2. Needs to invent something different yet again to stay on top.
Definitely. At most, Tim should MC, at the VERY most. I wouldn’t mind if he was not even on the stage. In fact, watching him is frankly painful. And that is OK. Everyone can’t do everything and it is this part that worries me about Apple. We shouldn’t have to be talking about this. Tim et al should have recognized and welcomed his not doing the presentations as a gentle way to move out from under Steve’s shadow by publicly acknowledging that he is not Steve and will not try to be Steve. By so doing he would have gently taken control of the ship without anyone even noticing. That is, the decision to not present would have been viewed as a compliment to Steve and as an act of omission or deference out of respect on Tim’s part. In fact, it would have been his first important act of commission as he subtly began to steer the ship on his own. They missed a huge opportunity and will never get that second chance to make that good first impression. Sadly, this has since been a trend in that they continue to miss those first good impressions and I won’t bore you further with listing the specifics that we all know to well.
I thought i was investing based on earnings not magic. There was definitely
I’m completing your thoughts…
There was definitely… something wrong with my reasoning. Wall Street has no interest in earnings, profits or reserve cash. Only quarter to quarter or year to year increases. It’s all about market share and future growth of which Apple has very little. I’ll wake up tomorrow morning and Apple will have a P/E of about 10.7. Yes, the magic is gone and so is my money.
/s
In light of the recent developments, I just sent this email to my daughter:
We both know that most of your inheritance is in Apple stock. And, in light of the drastic drop in the price in after hours trading, I have only one question: What the hell were you thinking?
If you bought at $800, I feel for you. (Well, not really as you should only bet the amount you can afford to lose) If you bought years ago at $20 or so, we’ll the stock has doubled a few times since then to the point that Apple would have to go down to below $10 a share for your money to show no appreciation at all.
At $450, you’re likely still well into the “profit” column.
As if magic kept the stock up. There is a tapered growth after a certain size. With or without Steve. Delusional thinking.
Reversing gear from $700 to $480 is tapered growth? Give me some of that Kool-Aid you’re drinking.
Growth of apple profit in every aspect except stock. Stock growth is not a measure of company success. There are 54 billion signs of evidence that apple has unheard of growth. Tell me one company who has grown to this size.
“Stock growth is not a measure of company success.”
Clearly
What a complete ass
So a squirrel and a duck go into a bar…….
And? 🙂
Thought I’d break the silence in the room.
Apple’s stock was punished even with Steve at the company… Remember when the iPhone came out? Apple stock was flat for basically a year and half.
Was just thinking the same thing … This same concept plays out with their product releases … No one is ever satisfied. So how despite WSs hate for the stock it has gone up over the long haul.
i think we are oversold i did hear they can’t make stuff fast enough and are selling 10 devices per second . that ain’t chopped liver in my book . if thats a problem i want it . lets see what happens tomorrow when people have had time to think of things cook all but said tv around the corner. just pull on the string !
I really hate the idea that Apple would run their business to please Wall Street. Once they turn the business over to bean counters focused on the bottom line, the company is over as we know it. Focus on making insanely great products and let the chip fall where they may.
It appears they don’t 😉 1
Charted Cramers picks the 1st two years of his show: 43% accurate with pps increases of at least 3%. Haven’t watched since….
This from the man that told the public to buy Bear Stearns shares a day before it went tits up
don’t forget “ass down”
Largest corporate earnings in the history of the earth. Jim Cramer is a ranting idiot.
Maybe Apple should get some of that magical fairy dust that BLN is spreading around here.
Flabbergasted… A company makes more than any company in history, and all we hear is how it has lost it’s shine. I’m not sure what you deem shiney, but your judgement and story is pessimistic and dull. Congratulations apple, well done.
Only the largest corporate earnings in the history of the earth. Cramer is looking for magic???
one of the partners in collusion will get wiped out by betrayal and the stock will move up again…
or it can break out of the trading range if certain shorts get squeezed really badly.