Jim Cramer: Apple’s next product is a ‘clear loser’

46 Comments

“Apparently, Jim Cramer is a now a prophet as well as an analyst,” John Koetsier reports for VentureBeat. “‘Let’s just call it as it is,’ he said today on CNBC, ‘there has not been a single piece of good news about Apple for 300 points, and today is just another day when the news is just horrendous.’ He’s either referring to Apple’s apology to China, or the fact that Goldman Sachs downgraded the stock today.”

“But not only has Cramer not seen any good news from Apple for months,” Koetsier reports, “he’s also predicting that the company’s next product, due in September, ‘is a clear loser,’ as he seems to believe that Apple is incapable of pulling out of ‘tailspin.'”

Jim Cramer
Jim Cramer
Koetsier writes, “That’s a fairly remarkable statement, even from Cramer. He is, of course, the financial analyst who predicted two years ago that an ‘overpriced’ LinkedIn IPO would ‘destroy everyone,’ so he is not unknown for hyperbole and bombast. But predicting the utter failure of a future, unreleased product?”

Read more in the full article here.

MacDailyNews Take: If you watch the video, Cramer was being sarcastic, John.

This is horrible reporting on Paul Toscano’s written CNBC report from which Koetsier report seems to be based. When someone is obviously being sarcastic, type “he said sarcastically,” in your report, Paul. It saves everybody a lot of time, effort, and misunderstanding.

Watch Cramer in the video here.

[Thanks to MacDailyNews Reader “twodales” for the heads up regarding the video.]

46 Comments

    1. I saw him make the comment on CNBC this morning, and he was clearly making cynical tounge-in-cheek comments regarding the downgrade, Apple analyst-calls today he thought were bone-headed.

      The headline “Jim Cramer: Apple’s next product is a ‘clear loser’ ” is completely and incorrectly out of context.

      Reply

  2. Remember he’s not saying that the product will suck. He could very well end up buying it himself. He’s speaking in the context of said product’s ability to lift Apple stock out of the doldrums. In that sense he could very well be right.

    Reply

    1. Cramer is a showman/entertainer, and as such believes that all publicity is good. Therefore he cares not a twit about what people think of his “calls”, but rather that he is in the news.

      Cramer’s record for stock picks is dubious. His assessments of product success/failures is non-existent.

      Anybody that pays attention to Cramer’s tripe is as much a fool as he.

      Reply

    1. Exactly said. Listen to the whole interview, and it is clear that Jim is saying that the Apple naysayers just don’t want to say anything good: no matter what the facts are.

      Reply

      1. Finally. Finally a couple of people who are not Apple fanboys on the site. Finally people who actually can take good and bad news about Apple. Finally an honest objective observation. I watched Cramer this morning as he made these statements. I watched the entire thing. He was absolutely being sarcastic. Nothing more. Nothing less. And in fact, fanboys should love him after the speech. Because if anything he was supportive of Apple.

        Reply

  7. Cramer’s rant was hilarious. It was thoughtful and well delivered. The author of this piece clearing has no idea what humour is all about. Cramer blasted analysts better than anyone I’ve heard before — other than real stand up comics.

    His line about downgrading now because obviously Apple won’t reach target for 2016 was beautiful. It is unfortunate that his humour runs close to the wind — so much so that some people mis-took this brilliant piece as his stance rather than understanding his underlying ire!!

    Reply

    1. My personal position about Cramer stands. However, on this piece I should have listened to the video first. Its ‘strange’ that Venture Beat did not include the video in their article allegedly quoting him. If they had, my feelings about this particular interview would have been far different. But then if they had, the shoddiness of their reporting would have been apparent.

      Venture Beat proves what Cramer said about Apple getting unfairly bashed, and its being done by hit whores, and investment brokers looking for a better price.

      Reply

  9. People need to pay attention and new/media outlets need to stop misleading readers. Cramer was bashing so called “analysts” who are already declaring Apple’s June quarter to be bad and future products to failures. Cramer actually believes Apple to be a strong company.

    Reply

  11. Well, the tailspin started with the iPhone 5 not having a bigger screen. Personally, I like being able to type in a password one handed, and fitting my sound docks. But, with my aging eyes, I’d also like a bigger screen.

    Reply

    1. Paul, if your eyes are aging, you need larger UI elements, not necessarily a larger screen. A larger screen doesn’t automatically make UI elements larger; in fact, the opposite is often true, as it is on the Samsung Galaxy. Icons and buttons are actually smaller on the larger screen than they are on some smaller screen.

      Try this:
      Settings > General > Accessibility > Large Text > 32pt

      It only works on Mail, Contacts, Calendars, Messages, and Notes, but it is effective.

      Reply

      1. Also extremely useful throughout iOS for users with tired eyes:

        Settings > General > Accessibility > Zoom > On

        “Zoom magnifies the entire screen:
        • Double-tap three fingers to zoom
        • Drag three fingers to move around the screen
        • Double-tap three fingers and drag to change zoom”

        Reply

        1. Thanks. I use those settings and zooming works well on a lot of things. But I need to put on my readers for notifications, etc. — but my son was hoping for a bigger iPhone. And it seems like I see a lot of younger users of the “phablet”.

    1. OOPS: And then I watched the video. APOLOGIES! FOR! BELIEVING! DUMDUM! JOHN! KOETSIER!

      I hereby remove the adjective ‘dickhead’ from my comment above as applied to Jim Cramer. OBVIOUSLY he was being SUPREMELY SARCASTIC of dickheads Goldman Sachs, and Goldman Sachs OBVIOUSLY deserve all the derision the world can muster. They were a PRIME creator of the 2007 long term worldwide economic depression, they know it, and they don’t care. GS is just as fscked in the head as they were in 2007. I’d cheerfully mash their testicles with steal-toed footwear if it were possible. They are that parasitic on everyone, including their customers and clients.

      Therefore, thank you Jim Cramer for joyously, sarcastically putting Goldman Sachs in their place.

      WTF is wrong with tech journalists these days? ADD? Cocaine addiction? This is a hell-of-a loony era. 😛

      Reply

      1. No you’re good. Kramer is still a manipulative dickhead airbag. I question the intelligence of anyone who listens to him. He has the entertainment value of an obnoxious character on a child’s TV show.

        Reply

        1. Yeah but, kid show characters make certain that even a little child can understand what they are saying. Cramer doesn’t bother. He blurs his words together in a frantic rush, not unlike, ahem, someone high on coke. That theme keeps cropping up in my mind this week. Speed, speed and more speed and speed…

        2. Off topic comment: Threadgill’s in Austin recall a splendid squash and steak entree in the 1980s. Heard Janis Joplin also performed there in her formative years.

          On topic: Kramer? Simply another clueless clown and market media joke.

    1. Why?

      Judging by your brontosaurs adjusted American flag avatar followed by consistent comments, are you saying the right is always wrong and only the left is right?

      Certainly your right and good luck with that …

      Reply

  19. Cramer is an entertainer for profit and is not subject to any journalistic standards (CNBC, btw, is exempted from NBC News standards for ethics and journalistic conduct). Check YouTube for the Jon Stewart takedown of Cramer’s pimping the market prior to the grand meltdown of 2007-8.

    Reply

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