“Apple shares have been on a rocky ride for weeks. After tumbling more than 15% from its highs, the stock up over [3%] on Monday,” Bret Kenwel reports for TheStreet).
“As TheStreet‘s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, has said about Apple, you own it, you don’t trade it,” Kenwel reports. “During CNBC’s “Mad Dash” segment Cramer noted Apple stock appears to have bottomed at the same time it was downgraded by analysts at Bank of America/Merrill Lynch.”
“Cramer said investors are being too quick to write off the Apple Watch,” Kenwel reports. “He disagreed with those who are portraying the device as a dud, saying they have not given the product enough time. After all, some thought the iPod, iPhone and iPad were duds at first, too. Now look at what they’ve become.”
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