“With the Nasdaq set to adjust its weighting in the benchmark 100 stocks on May 2, traders have been paying particular attention to Apple, which will be most affected by the move,” Michelle Fox reports for CNBC.
“Mad Money host Jim Cramer said on Friday’s Stop Trading! that he thinks Apple has been ‘kept down by this rebalancing and that what is happening is the weight is being lifted,'” Fox reports. “Cramer added, ‘Apple’s cash position is bigger than almost all the companies in the world,’ and said he prefers Apple over Microsoft and Research in Motion.”
Cramer stated, “I’m saying that nothing’s wrong with Apple and that patience will be rewarded.”
Read more in the full article, which includes video, here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]