Jim Cramer: Apple’s next product is a ‘clear loser’

“Apparently, Jim Cramer is a now a prophet as well as an analyst,” John Koetsier reports for VentureBeat. “‘Let’s just call it as it is,’ he said today on CNBC, ‘there has not been a single piece of good news about Apple for 300 points, and today is just another day when the news is just horrendous.’ He’s either referring to Apple’s apology to China, or the fact that Goldman Sachs downgraded the stock today.”

“But not only has Cramer not seen any good news from Apple for months,” Koetsier reports, “he’s also predicting that the company’s next product, due in September, ‘is a clear loser,’ as he seems to believe that Apple is incapable of pulling out of ‘tailspin.'”

Koetsier writes, “That’s a fairly remarkable statement, even from Cramer. He is, of course, the financial analyst who predicted two years ago that an ‘overpriced’ LinkedIn IPO would ‘destroy everyone,’ so he is not unknown for hyperbole and bombast. But predicting the utter failure of a future, unreleased product?”

Read more in the full article here.

MacDailyNews Take: If you watch the video, Cramer was being sarcastic, John.

This is horrible reporting on Paul Toscano’s written CNBC report from which Koetsier report seems to be based. When someone is obviously being sarcastic, type “he said sarcastically,” in your report, Paul. It saves everybody a lot of time, effort, and misunderstanding.

Watch Cramer in the video here.

[Thanks to MacDailyNews Reader “twodales” for the heads up regarding the video.]