Market Overview

Jim Cramer: Own Apple, Don't Trade It!


Apple Inc. (NASDAQ: AAPL) chatter is heating up as the company's quarterly earnings report is expected out after the closing bell on Tuesday. The overwhelming majority of Wall Street analysts are bullish on the stock, while some pundits are less certain.

What's Jim Cramer think? He recently shared his thoughts on CNBC.

"Own Apple, don't trade it!" he emphatically said last week. "And if you don't already own Apple, wait until after the quarter and then pick some up."

Piper Jaffray's Gene Munster recently said negative expectations are already priced into the stock, but of note, Credit Suisse said $92 could mark an absolute downside from here.

"The greatest company of all time and the greatest company of all time isn't about to quit on you any time soon," Cramer added.

In early January, Cramer detailed this thesis further. Anyone who doesn't own Apple should buy it, he said, adding that a $9 billion M&A purchase of connected car company Harman makes sense.

"Why Apple won't do this [buy Harman] is pretty strange if you ask me, because Apple's CarPlay needs to play ball with more companies, just like Harman does, and Harman's stock is no longer expensive."

Apple stock is near the $101 mark as of this writing.

Posted-In: Analyst Color Long Ideas News Technicals Movers Tech Media Trading Ideas


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