“If ever there was a stock that confounded investors, it’s Apple. With earnings beating estimates but revenue falling slightly short, Jim Cramer reveals what every investor must know,” Lee Brodie reports for CNBC. “The results and the subsequent price action [down $53.79 (10.46%) to $460.22] seem to confirm what Cramer has suspected for quite some time. ‘Without Steve Jobs, Apple is just another stock, it’s not magical anymore,’ said Cramer. ‘But that’s okay,’ he added. ‘Just because it isn’t magical doesn’t mean it’s automatically a loser, especially considering how cheap the stock has become after this shellacking.'”
Brodie reports, “However that’s not to say Cramer thinks the Apple stock is a buy – he doesn’t. He simply said, ‘It’s time to accept the fact that Apple’s a decent stock the way IBM is or Johnson & Johnson is.’ No more and no less. ‘One thing’s for certain,’ Cramer added. ‘”Neither you nor anyone else wants to hear that Apple is fine, that it’s inexpensive even after this quarter. That it has huge flexibility with nearly $40 billion in cash – and that things will work out fine. This stock is way too emotional and even though that’s exactly how I feel, the coliseum wants red meat.'”
Brodie reports, “All told, there are plenty of reasons to sell. But – the stock is relatively cheap and that’s a good reason to buy. As a result Cramer added that perhaps the best thing an investor can do is just forget about Apple, all together. ‘It’s become the equivalent of an eclipse that you can’t stop looking at,’ he said. ‘Before long your retina’s burned out and you can’t see anything that’s actually worth seeing.'”
Read more, including Cramer’s reasons why the selling pressure may endure, in the full article here.
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Apple is maturing. It’s earnings will remain solid, and it’s price will become more stable, but no on is going to get rich off this stock. Apple is going to just big, blue chip stock. And that’s ok. The only other scenario is that it becomes Weyland-Yutami, and I, personally, don’t think they’re working on terra-forming over at Apple headquarters.
What the hell did these idiot institutional investors think would happen when Steve was in charge? That he would come up with some genius product, and then some soda water salesman would force Steve out and then modify the genius product so it would be cheap as owl shit and sell in the billions of devices?
Split the stock 20 for 1 and let the small investors buy in that will nicely burn Wall St for all this bullshit manipulation. The sales numbers and profit numbers are a reality that can only be ignored for so long. Love how the analysts can openly commit fraud. Sit tight, hold your shares and you will win….
About a week ago Cramer stated on CNBC’s Squawk on the Street that APPL stock had a perception problem, but that Apple the company did not. Saying in essence that Wall St. had a problem with the stock, but that the company was performing and managing things just fine. Painful as this is, it’s true. The company is doing great. Sure, like all companies there’s a few problems in areas. For example some of the recent software issues, which the company is addressing with new management and leadership, etc. But Wall St. short sighted and overzealous expectations are dragging the stock down. As long as the company’s fundamentals and guidance stay true, there’s a lot of money left to be made on APPL for a long time to come. In due time you’ll be hearing once again from Cramer that APPL has rebounded. Now is a great buying opportunity and don’t emotionally react to the Wall St. pundits. In many ways, this downturn is a good sign that APPL is now considered by Wall St. mature enough to begin to be taking its hits and criticisms.
Cramer is full of 💩. He is an idiot. You should have been around in 2003 when he lost every bodies shirt with his snake oil recommendations.
Apple is will do just fine. Comments made about Steve Jobs are way over blown. He was a jerk
with a great group of Extremly bright people. They are still at Apple and exciting products will be coming soon. They will announce in the next day or so a major stock buy back. This is the bottom. 138 billion in cash is no chump change.
So basically the stock market is based on the perceptional belief in the effects of magic. I’m setting up a company specialising in alchemy then, the stock will be through the roof.
Bullshit! This is Cramer being a lemming again. J&J’s P/E is 24, IBM 23. This is something else: manipulate it down to force Tim Cook, the maybe-gay out, or something. Wall Street does not like him and they are flushing out as many as possible now in anticipation if a huge run-up later in new product speculation. This is Wall Street being the same pricks they were in 2007-2008.