“CNBC’s ‘Mad Money’ host and analyst Jim Cramer on Tuesday evening spoke about the tech stock trade and specifically targeted Apple. According to Cramer, tech stocks are defenseless against things that ‘hammer’ their value — they have no dividends, buybacks or takeover prospects. ‘Apple probably has the best prospects of any tech stock out there,’ Cramer explained,” MacNN reports.
MacNN reports, “Metaphorically, Cramer said that hammering Apple stock is much like ‘shooting Apples in a barrel.’ He believes that because Apple offers no dividends, no guidance or any buyback — no defenses. ‘Any short seller can rumor down any stock without a buyback,’ he asserted; it’s so ‘pathetically easy’ that all a person has to do is lift up a phone and tell their friends and brokers causing a chain reaction.”
MacNN reports, “‘Understand, all of these stocks [I think] are valuable,’ stated Cramer, ‘I picked Apple because it has the best prospects and it’s still getting creamed.'”
Full article with screen cap of Cramer shooting apples in a barrel here.
Missed it the first time? Correct the mistake. The elevator is coming down to pick up the stragglers who couldn’t or wouldn’t see it before. But, they see it now. Have patience while we get down to their floor and they finally climb aboard.
Related article:
Cramer’s Mad Money advice: keep Apple Computer, dump Microsoft shares – July 05, 2006
Cramer: ‘I have never seen a systematic, multiweek bear raid like I have on Apple Computer’ – March 27, 2006