Jim Cramer on Apple iTunes Store and ‘that stupid Forrester survey’

“Apple is showing its sunny side after some cloudy days, said Jim Cramer on his TheStreet.com TV video on Wednesday,” TheStreet.com reports.

“Cramer cited Piper Jaffray analyst Gene Munster’s recent declaration that Apple had in fact experienced strong growth within the first nine months of 2006, which is in opposition to an earlier report by Forrester Research that stated Apple endured a 65% drop in monthly iTunes revenue during the first half of the year,” TheStreet.com reports.

“Apple shares fell 3% after the Forrester report Tuesday. ‘Apple computer [has] been the big decline ever since that stupid Forrester survey,’ Cramer said,” TheStreet.com reports. “Cramer predicted that Apple will steam right back up to $90. Apple was up 1.5% today.”

Full article here.

Related articles:
Piper Jaffray: Apple iTunes Store sales show strong year-over-year growth – December 13, 2006
Apple on Forrester report: ‘the conclusion that iTunes sales are slowing is simply incorrect’ – December 12, 2006
Blackfriars’ does the math: Apple iTunes sales are not ‘collapsing’ – December 12, 2006
iTunes interest climbs as one analyst claims falling sales – December 12, 2006
Akamai Net Usage Index for Digital Music measures real-time global consumption of online music – December 11, 2006
WSJ mistake: ‘digital-music sales have stalled for the first time since Apple launched iTunes Store’ – December 06, 2006
Digital downloads drive world music sales in first half of 2006 – October 13, 2006
Study reports the obvious: most music on iPods not from iTunes Store – September 17, 2006
Apple iTunes Gift Cards help boost growth of digital music in U.S. – April 21, 2006


  1. Seems somewhat obvious that this was a deliberate move to set up some short selling, plus a buying opportunity on the rebound… Sometimes I think the market is plain stupid, on the order of a bunch of cows following a decoy to the slaughterhouse. Ultimately, fundamentals win the day if you play “long.”

  2. Cramer called it right. At 5 minutes to market close, aapl hit $88.95, up $2.81 on the day. Gotta love him, crazy antics and all. He’s called a lot of big winners, including CAL, BLUD, XOM, and… yes… even MSFT (of late.)

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