Cramer: Apple has opportunity for enormous market share right now
“With Apple’s stock up 25 percent since its multiyear lows in May, Jim Cramer has heard various rumors about why Apple has suddenly come roaring back,” Abigail Stevenson reports for CNBC. “There is one important piece of the puzzle that he thinks Wall Street has mostly ignored that explains the bounce.”
“Apple’s chief rival, Samsung, was caught in a debacle for its Galaxy Note 7 phones, after it was discovered that the batteries could overheat and cause the phone to explode. Samsung’s newest smartphone has now been recalled in the U.S., and the Federal Aviation Administration issued a warning as a potential safety hazard,” Stevenson reports. “‘This opens the door for Apple to take back a potentially enormous amount of market share,’ the host of CNBC’s ‘Mad Money’ said.”
“‘Considering the damage it has done to Samsung’s brand, I bet there could be a lot more upside here,’ Cramer said,” Stevenson reports. “In an effort to get ahead [of Apple’s iPhone 7 and 7 Plus launch], Samsung expedited the launch of the Galaxy Note 7 and shortened its release date by 10 days and added 10 new features, while dismissing concerns from suppliers that it could cause problems… Thus, because Samsung rushed to release its new product, it sacrificed safety for more speed, features and processing power, Cramer said… ‘I believe this is a game-changer,’ Cramer said.”
MacDailyNews Take: And once the great unwashed finally try a real iPhone, the phone which all others try and fail to emulate, it’s all over for Samsung. As with the Mac, once you go iPhone, you never go back.
