Those who think Steve Jobs’ health is on the line should take 75% of their Apple stock off the table, says TheStreet.com’s Jim Cramer:
Direct link to video here.
An attempt to drive down the price of AAPL? An earnest opinion? A mixture of both or something else? What do you think?
One thing’s for sure: there’s only one Steve Jobs. The good news is that he’s still here, Apple says publicly that he’s okay (the SEC does not take kindly to lying about things that are material to a company’s fortunes,) and Apple is a very likely place to attract the next Steve Jobs. In fact, he or she may already work there.
As for Jim Cramer, please look at the related articles list carefully. It’s like a conflicted, torturous roller-coaster for day-traders.
Is it just me, or does she ask, at 00:22, what would happen if Apple had no ass?
True. Jim Cramer doesn’t look so good- looks drawn, gaunt… a little crazed around the eyes. Has he had his thyroid checked? Reminds me of Rock Hudson in the Beginning of the End. He needs to take a break- but how’ll the Street survive without him? Would there even be a stock market if Jim Cramer were to disappear? Once he’s gone, show me the money- please! My God,it was so much easier in the old days- playing Monopoly, Easy Money… GI Joe..
While Cramer has been right long term to appreciate the obvious–Apple is one of the most fabulous companies and stocks of this decade–his timing has been almost exactly wrong. Wrong enough to probably be useful for your own timing (if you do such a thing)–as a contrary indicator.
So I guess $170-$180 now is not the top that $180-$200 was a few months ago.
Real negative news on Steve’s health would hit the stock, probably hard. If it did it would be a buying opportunity. Steve is a great leader, but he doesn’t write the code, design the products, negotiate the deals, etc.
If you believe SJ, hands-on everything is the key, you should sell regardless of his health. This is a much bigger company than the one he turned around… they do a great job of keeping it as simple as possible… but… the company he turned around had hardware and Mac OS. They now have that, plus both consumer and pro apps, mobile OS X, iphone hardware… and being the dominant force in the music business, which hardware, software AND music retailing sides.
Plus they run the best retail operation on the planet.
The best thing is that SJ isn’t a young web2.0 guy. He’s in his 50s, he’s seen it all, he’s made all the mistakes…. including choice of a CEO. He’s capable of finding succession… and he’s not going to leave his legacy in poor hands.
Hopefully it’ll happen years from now, when, Gates-like, he just wants to move on.
====
I think my coffee kicked in.
Cramer is a great AAPL contrary indicator.
And these are all grow-or-die propositions. If iTunes music collides with video, ipods collide with phones, gps, and small mobile computing in general.
Steve can’t run this all himself.
And he should be able to (1) pick the leader who can run it in the future (through vision, leadership, and delegation); (2) pick a frontman who can rally the troops and the fans.
One other idea comes to mind… the SPIRIT of Apple, the loyalty of its users and the appeal of its brand, was alive and well in the 90s… without SJ. The company was managed poorly and faltered. But the idea didn’t.
Hopefully, when the time comes (which may be well off in the future)… Steve will have the same clarity to choose successors that he’s had with products. The hit, of course, will be the people who are passed over and leave.
[apologies.. this is a corrected entry as somehow my paragraphs got rearranged in the last one]
While Cramer has been right long term to appreciate the obvious–Apple is one of the most fabulous companies and stocks of this decade–his timing has been almost exactly wrong. Wrong enough to probably be useful for your own timing (if you do such a thing)–as a contrary indicator.
So I guess $170-$180 now is not the top that $180-$200 was a few months ago.
Real negative news on Steve’s health would hit the stock, probably hard. If it did it would be a buying opportunity. Steve is a great leader, but he doesn’t write the code, design the products, negotiate the deals, etc.
If you believe SJ, hands-on everything is the key, you should sell regardless of his health. This is a much bigger company than the one he turned around… they do a great job of keeping it as simple as possible… but… the company he turned around had hardware and Mac OS. They now have that, plus both consumer and pro apps, mobile OS X, iphone hardware… and being the dominant force in the music business, with hardware, software AND music retailing sides.
Plus they run the best retail operation on the planet.
And these are all grow-or-die propositions. If iTunes music collides with video, ipods collide with phones, gps, and small mobile computing in general.
Steve can’t run this all himself.
And he should be able to (1) pick the leader who can run it in the future (through vision, leadership, and delegation); (2) pick a frontman who can rally the troops and the fans.
One other idea comes to mind… the SPIRIT of Apple, the loyalty of its users and the appeal of its brand, was alive and well in the 90s… without SJ. The company was managed poorly and faltered. But the idea didn’t.
Hopefully, when the time comes (which may be well off in the future)… Steve will have the same clarity to choose successors that he’s had with products. The hit, of course, will be the people who are passed over and leave.
The best thing is that SJ isn’t a young web2.0 guy. He’s in his 50s, he’s seen it all, he’s made all the mistakes…. including choice of a CEO. He’s capable of finding succession… and he’s not going to leave his legacy in poor hands.
Hopefully it’ll happen years from now, when, Gates-like, he just wants to move on.
====
I think my coffee kicked in.
Cramer is a great AAPL contrary indicator.
“Steve can’t run this all himself.”
Bingo…
Nor has he. They have a sound aggressive and secretive business model. BUT your smokin hoochie to think he’s done it all himself.
This is the problem with the cult. They:
#1 – still believe in fantasies that one man with a kablilliob $$ company is solely responsible.
#2 – they are currently making tiny sacrifices to their tiny Steve alters to keep him healthy.
Nobody want Steve jobs ill. Because he’s the spokesperson of a really fun company. YES – he steers the ship and yes he sees the obvious once they have attained success.
But he’s not the only cog in the machine.
Just so you know, this is the most *transparent* stock manipulation effort I’ve ever seen him make. You can see him smiling while he says these somber things.
And then next month, when the iPhone sales figures start to appear ….
Without steve we would see larry and sergey spend a record amount to form Gooapple.
Steve will “retire” once his vision of Apple products serving as the digital hub for people’s lives is complete. He’s got the home office (Macs), the personal communication device (iPhone), mobile computing (MacBooks), the den or living room with the iPod(& iPod Hi Fi) and the AppleTV, all connected via Airport. He’s nearly there.
I think Cramer is still an idiot. Hey Jim…do I sell that rock solid Bear Stearns stock yet?
just my $0.02
After Walt Disney died 1966, everyone at the studio, from executives to animators to imagineers, would ask “What would Walt do?”
Steve Jobs has already built a solid foundation for when that day finally arrives – everyone at Apple will ask “What would Steve do?”
“the SEC does not take kindly to lying about things that are material to a company’s fortunes”
it doesnt take kindly to backdated stock options either, but sometimes it just can’t prove enough to get a conviction.
“After Walt Disney died 1966,… “What would Walt do?”
Steve Jobs has already built a solid foundation”
So lots of people around Apple are going to be having paranoid, psychotic ranting exchanges with each other. Sorry you have to actually BE Steve to pull that off.
My iMac runs great regardless of Steve Jobs. Thank you very much.
“Steve Jobs IS a visionary, is a showman and is the spirit of Apple Inc. However, the place is full of bright, forward looking and very competent people.”
As are many places. But in the case of Apple the Secret Sauce is Steve.
Add to that, the departure/death of Steve will give many members of the Steve personality cult the emotional out they need. “I supported Apple right up until Steve departed, after that, they were never the same so I went an brought a faster, cheaper, more compatible Windows PC”.
cb:
Your metaphor ain’t working. If Steve Jobs steers the ship he is a mere seaman, a deck ape at the wheel. Who is the captain giving the orders?
If what you meant is Steve Jobs is the captain of a tight ship, who will command U.S.S Apple when he is relieved? That is what is on peoples’ minds today and for the future.
Unfortunately, it appears that no one at Apple has the same vision and stage presence of the Great Prophet and Huckster. Who would you suggest has the same sagacity and salesmanship as Jobs?
Hmmm?
I completely disagree with the analogy that Steve Jobs is the Thomas Edison of our time. Edison truly was an inventor. Jobs is a visionary, but not an inventor. Jobs takes existing concepts and gets talented people to improve them – mostly through outstanding design.
Jobs is a successful strategist. Edison was weak on strategy.
Edison’s company did not fail when he passed away – it is still around today – it is called General Electric or GE.
That Cramer got this very basic analogy incorrect makes me believe that he is merely trying to manipulate the stock. Sad state of affairs that people such as Cramer are allowed to pull this kind of crap on mass media in the USA.
jim cramer is really a “SOB”.
“I completely disagree with the analogy that Steve Jobs is the Thomas Edison of our time.”
You’re right, Edison actually invented stuff, Steve just packages and sells it. PT Barnum is a better analogy.
.. whether or not Jobs is there.. who the hell is going back back to Microsoft?! Surely not I! So no matter who is in charge of Apple, I seriously doubt anyone is going bak to PC just because Jobs may be gone
Who?,
Right on, brotha!