“It seems to Jim Cramer these days that with so much negative news surrounding Apple, the stock refuses to plummet,” Abigail Stevenson reports for CNBC. “It makes him think that the stock could have a real upside later in the year.”
Stevenson reports, “‘Have you noticed that they have thrown everything at Apple but the kitchen sink, and the darned thing just won’t come down?’ the ‘Mad Money’ host asked.”
MacDailyNews Take: Yes, we’ve noticed.
“‘Perhaps more important than all of this [negativity] is that Apple’s got a buyback of immense proportions,’ Cramer said,” Stevenson reports. “And at 10 times earnings, maybe the bad news is already baked in to the shares. ‘Apple could have some real upside later in the year, which is why I reiterate my view that you want to own this stock, not trade it,’ Cramer said.”
Read more in the full article here.
MacDailyNews Take: Certainly seem plausible.