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“Selling at 14 times earnings, Cramer called Apple’s stock ‘dirt cheap.’ He thinks it should be higher, especially given its ‘incredible’ earnings results. Yet, some investors don’t think the company deserves its $300 billion market cap and worry about how it will do without Jobs at the helm. Cramer, however, remains bullish on AAPL,” Sandholm reports. “‘Apple is bigger than one man, even if that one man is part Thomas Alva Edison when it comes to inventing, part Henry Ford when it comes to manufacturing and part Sam Walton when it comes to building a retail empire,’ Cramer said.’Jobs has built a deep bench and even without him, nothing can stand in the way of this incredible growth company.'”
Sandholm reports, “Apple is like a rain forest, Cramer said, because everything grows there. Its competitors, on the other hand, are like the desolate Gobi desert. Not much growth to speak of, he said. Given Cramer thinks Apple could earn $23 a share this year, his [new] price target of $400 [up from $325] is relatively conservative. ‘With or without Steve Jobs, Apple is taking over the world and that’s why I’m raising my price target for Apple to $400,’ Cramer said. ‘Hallelujah. Never seen anything like it.'”
Read more in the full article here.
MacDailyNews Take: Here’s hoping and praying that it’s with Steve Jobs.
[Thanks to MacDailyNews Reader “Joe Architect” for the heads up.]
@LuneUnion, I must admit when the “god fearin” started trashing the atheist I was getting a bit annoyed, but your post summed it up well, well wishes, hope and all that are the intent behind the prayer comment. Even if I find it amazing that we still base so much on prayer (except of course when it comes to health, then there are doctors!)
But if there was a logical argument for gods existence there would be no atheists.
The main point is we want Steve to heal and return stronger.