“Only a few hours ago Apple was all about the potential of new products in China. Cramer said the Street was hyper-focused on the company’s deal with China Mobile, which CEO Tim Cook called a watershed moment,” Lee Brodie reports for CNBC. “And it made sense; China mobile has an estimated 760 million subscribers. But largely those developments as catalysts for the stock may be history.”
“Now, Cramer believes Apple may trade on comments from Carl Icahn that were Tweeted on Wednesday,” Brodie reports. “The activist investor said he increased his stake in Apple but also Tweeted critical comments concerning the way in which Apple is run. ‘Essentially Icahn said that Apple Is disgraceful for not buying back more stock given that shares are incredibly cheap here, and that it’s governed poorly so he’s going to put pressure on the company,’ Cramer explained. ‘Icahn also charged that Apple has an imperial board of directors and he wants that to change. Icahn’s also going to send a letter throwing down the gauntlet about a company.'”
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Brodie reports, “As a result, Cramer thinks the catalyst that moves Apple in the days ahead are the follow-up comments from Icahn and not metrics such as overseas sales. ‘So much for the idea that Apple now revolves around China,’ Cramer said.”
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