“After Apple’s (AAPL ) earnings come out on Wednesday, people can buy the stock, but for now they should consider selling some of their position, Jim Cramer said on TheStreet.com TV’s Wall St. Confidential Web video Monday,” TheStreet.com reports.
“‘We have now had this first-class ramp into earnings. I don’t like ramps into earnings,’ [Cramer said],” TheStreet.com reports.
TheStreet.com reports, “Cramer said he believes the call is not going to be about the iPhone, but about the company’s earnings, and he doesn’t believe there is anything special in Apple’s earnings. ‘The next day [after the earnings] it will get hit and then you can pull the trigger,’ he said of Apple.”
Cramer said, “‘What I say to people who are unwilling to take something off is, ‘Look, you better not mind a sell-back to $135. You better be able to deal with that because I don’t want you in my face telling me, ‘Thanks a lot, why didn’t you tell me to sell some Apple?’ … I am being abject and adamant: Sell some Apple,'” TheStreet.com reports.
Full article here.
In related news, Katie Marsal reports for AppleInsider, “After surging for the past several weeks, shares of iPhone maker Apple Inc. could experience some short-term volatility around the company’s fiscal third quarter earnings report this Wednesday, warns one Wall Street analyst.”
“‘We believe buy-side investors have more or less figured over the past 18 months that Apple sell-side estimates tend to be overzealous and sometimes outright irrational,’ American Technology Research analyst Shaw Wu wrote in note to clients Monday,” Marsal reports. “‘Regardless, we advise investors to take advantage should Apple shares pull back on short-term concerns.'”
“Wu reiterated his Buy rating on Apple shares with a $165 price target,” Marsal reports.
Full article here.