Market Overview

Jim Cramer Calls Apple The 'Worst-Loved' Stock

Share:
Jim Cramer Calls Apple The 'Worst-Loved' Stock

Investors seem to have developed a love-hate relationship with Apple Inc. (NASDAQ: AAPL) and its stock. Or, as CNBC's Jim Cramer puts it, "Apple stock is the worst loved piece of paper in the universe."

Speaking during his daily "Mad Money" segment, Cramer pointed out there may be a disconnect between anything positive said about Apple and the stock's reaction. For example, Apple just received what was once considered to be the "most coveted honor in investing" — an investment from Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B).

However, as reports surfaced that Buffett himself didn't make the investment and it was either Todd Combs or Red Weschler that authorized the purchase, the market brushed off the news as if "it doesn't even count."

"I say, give me a break. This is the first time I can ever recall that you have to asterisk a Buffett buy," Cramer said.

"I felt like this one has got the Warren Buffett kiss of death," he added. "So goes the hate affair with Apple."

Related Link: 3 Reasons Citi Thinks Apple Is Under Pressure

Cramer moved on to Wall Street's love/hate relationship with Apple, specifically Toni Sacconaghi of Bernstein who has held an Outperform rating on Apple's stock "for ages." Nevertheless, the analyst's commentary during Apple's post earnings conference call and subsequent research reports may suggest he "loathes" the stock and the company.

"It is the most faux-buy recommendation I can ever recall," Cramer suggested.

Bottom line, Cramer thinks that nothing matters for Apple's stock, and Wall Street's bulls need to downgrade the stock before it can stabilize. Only when the company sees a stabilization in its business and the worst is over then analysts can upgrade once again.

"Until that happens, all I can say is, the love-hate affair with Apple will continue," Cramer concluded.

Posted-In: Bernstein CNBC Red Weschler Todd Combs Toni Scconaghi Warren BuffettTech Media Best of Benzinga

 

Related Articles (AAPL + BRK-A)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial

Well, That Was Quick. Markets Barely Budge in Early Trading

WidePoint Hires Jason Holloway As Chief Sales And Marketing Officer