“Apple has reportedly begun discussions with U.S. banks about developing a mobile payments system, but the company’s continual innovation appears to be overshadowed by concern about cell phone demand, TheStreet’s Jim Cramer said on CNBC’s Squawk on the Street this morning,” Rachel Graf reports for TheStreet. “‘Obviously, everyone wants to be in this space,’ Cramer said.”
“The younger generation in particular views online payments services such as PayPal as more relevant than credit cards, Cramer noted,” Graf reports. “His own children call him a T. Rex for using a Hewlett-Packard computer and American Express credit card.”
MacDailyNews Take: It doesn’t get much more dinotastic than rocking a POS Hewlett-Packard Windows PC. (shudder)
“Investors are concerned that iPhone demand is slowing, especially following Monday’s Credit Suisse report,” Graf reports. “This is ‘certainly not demonstrable,’ Cramer said.”
MacDailyNews Take: About that Credit Suisse fomentation, please see:
Apple shares continue to get slammed on commission/bonus related ‘actionable research.’
“Scams” are not “analysis.”
Graf reports, “All of Apple’s innovation is a positive for the company, but the stock ‘just can’t get out of its own way right now,’ he added.”
Read more in the full article here.
MacDailyNews Take: If Apple were fairly valued today, it’d have a market value exceeding $1 trillion.