“On the heels of what promises to be a significant new product launch for Apple, a stock which Cramer owns for his charitable trust, Action Alerts PLUS, Cramer said history is very clear: Investors usually sell Apple on the day of new product launches,” Rutt reports. “He said while this trend may scare off novice investors, it’s actually a huge opportunity in disguise.”
Rutt reports, “Cramer said the new product lull that Apple experiences usually lasts for two days, which means by Friday, the stock should be ripe for the picking. He reiterated his $300 price target for Apple, which reported better-than-expected earnings Monday on strong demand for its Macintosh, iPod and iPhone product lines.”
Full article here.