Jim Cramer Blog

Apple (NasdaqGS: AAPL): Cramer observes demand is "out of control" for the iPhone and, concerning the decline following comments made by CEO Steven Jobs at Apple's annual developers conference, Cramer suggested waiting for the stock to settle and to see if there will be downgrades before buying. "My inclination is to buy on any weakness, but I need to know more," he said.
Nucor (NYSE: NUE): Since Nucor has given profit warnings, Cramer would stay away from the steel industry, except for ATI, because it is connected with aerospace and not with housing and oil. However, Cramer added, "this could be NUE once again sandbagging us. It's a great American company."
Hewlett-Packard (NYSE: HPQ) and Dell (NasdaqGS: DELL): Cramer was pleased with Bear Stearns' call that personal computer sales are going to be stronger in the second half of the year, which is good news for HPQ which has been "a winner the whole way." However, Cramer admitted he was horrified that three analysts downgraded Dell after it reported a great quarter; "I think DELL's a great second-half story with a lot of the weakness, a lot of the price already out." He expressed confidence in CEO Michael Dell "because that has been a crummy business, and he turned it into a great business."

Labels: AAPL, DELL, HPQ, Jim Cramer, Jim Cramer's Stop Trading, NUE