“Apple’s stock is the worst-loved piece of paper in the universe,” Jim Cramer writes for The Street. “Anything that’s said about Apple is all viewed as damning with faint praise, right down to the billion-dollar stake Berkshire Hathaway (BRK.A, BRK.B) just took in the company.”
“I say that because within minutes of learning about the 9.81-million-share position, we also heard that it wasn’t Buffett’s position, it was either Todd Combs’ or Ted Weschler’s, two underlings. In other words, it doesn’t even count as an Oracle of Omaha name!” Cramer writes. “To which I say, give me a break. This is the first time I can ever recall that you have to asterisk a Buffett buy.”
“So goes the hate affair with Apple from those who profess to love it,” Cramer writes. “When a company misses, the logical process is a sea of downgrades, a lowered share price, and then upgrades when the worst is built in. Until that happens, all I can say is, the loving hate affair with Apple will continue. Bottoming is a process. This one’s stunted. Hence the faint praise that damns.”
Much more in the full article here.
MacDailyNews Take: This too shall pass.
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