“‘The United State of Apple is alive and well,’ Jim Cramer proclaimed to the viewers of his ‘Mad Money’ TV show Monday,” Scott Rutt reports for TheStreet. “Cramer said that Apple (AAPL), a stock which he owns for his charitable trust, Action Alerts PLUS, was one of the leading drivers in today’s rally off the lows.”
“Consensus estimates are for Apple to earn $32 a share in fiscal 2012, but Cramer said those estimates are drastically too low,” Rutt reports. “He said with the world clamoring for the next iPhone and the iPad still the only game in town, not to mention the downfall of rivals Hewlett-Packard (HPQ) and Research in Motion (RIMM), Apple could earn as much as $45 a share.”
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Rutt reports, “Cramer said he expects to see analysts drastically revising their targets for Apple upward in the coming weeks, sending shares flying.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]