TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said a lot of people think Apple is just a device company but the problem with that is that these devices also lead to a very lucrative service stream. It’s the fastest growing revenue stream and it has really big margins.
Wall Street is convinced this is just a device company. Cramer believes that investors who think this is just a device company, should get out of the stock.
If it were just a one product company the stock would go to $58 or $60. But Cramer totally disagrees and thinks the revenue stream for services is going to be very big.
Watch the video here.
MacDailyNews Take: So are we.
SEE ALSO:
Apple CEO Cook ends stock slide with appearance on CNBC’s ‘Mad Money’ with Jim Cramer – May 3, 2016
[Thanks to MacDailyNews Reader “Chris Renaldi” for the heads up.]