“Investors should own Apple’s stock rather than sell, CNBC’s JIm Cramer said Wednesday, a day after the tech giant posted record quarterly profits in part because of its strong performance in China,” Fred Imbert reports for CNBC. “‘This is a mesmerizing quarter,’ Cramer said on ‘Squawk on the Street.'”
“The company’s expansion in China can also help it keep its momentum, Cramer said. ‘The China thing amazed me when I saw how few stores [20] they have,’ he said. ‘They could probably use 1,000 stores in China. The online business is [also] incredible in China,'” Imbert reports. Cramer also said he believes the Apple Watch will be a big success. ‘[Tim Cook] said ‘I can’t live without it,” Cramer said. ‘[Cook’s] credibility is the highest of any CEO right now, so if he says he can’t live without the watch… I’m getting the watch.'”
Read more in the full article here.
[Thanks to MacDailyNews Readers “Fred Mertz” and “David E.” for the heads up.]
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I believe Mr Cook when he says he can’t live without it (Apple Watch). As a fashion play, Apple has the opportunity to have a wide range of profit margins, from great for standard watches to crazy for high end. It will drive profits more than people expect.
If Cramer say buy/hold then maybe it’s time to sell.
Even when Cramer is occasionally right, you instinctively want to disagree with him. Cramer just brings out the worst in people.
Cramer is right as often as broken clock.
He is complete air head. He was wrong so boldly for so many times that it is a mystery why MDN care about what he says.
He might be able to convince these guys though…the more the merrier.
Careful, I worked on that movie. 🙂
Interesting how these Anal-ists suddenly say buy when before they were ho hum on Apple. Just shows how dumb they really are when it comes to Apple.
Unfortunately most investors don’t know how blind anal-cysts are to Apple. You’d think they’d learn after the Apple sky repeatedly does not fall down, in fact goes way up.
RUH ROH. Cramer says Buy. There goes the neighborhood.