“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.”
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