“Apple’s recent big-dollar decline [AAPL: $574.97 -25.95 (-4.32%)] is hardly a cause for concern, ‘Mad Money’ host Jim Cramer said Wednesday,” Bruno J. Navarro reports for CNBC. “‘Don’t let the big numbers fool you,’ Cramer said. ‘I find that if you divide everything by 10, things become a lot clearer. If Apple were a $60 stock, not a $600 one, and it fell $3, you wouldn’t freak out, particularly after what was, indeed, a serious disappointment.'”
“Apple, Cramer noted, is selling for less than 11 times next year’s earnings,” Navarro reports. “‘It’s among the cheapest stocks I follow, offering phenomenal growth for a price rather similar to many cyclical semiconductor names,’ he said.”
Navarro reports, “If it were a $57 stock, the question would be a no-brainer, Cramer said. ‘I reiterate that I believe Apple must be owned. You don’t rent it and you don’t trade it,” he added. “I think it will be well worth it as it has been for all the years and years that I’ve told you to hold on to the best manufacturer, the best retailer, and the best technology stock money can buy.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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