Jim Cramer's Wall Street Confidential July 26th
Apple (Other OTC: APPL- News)
Cramer was struggling with the issue of whether he should raise his $150 target for Apple. The company's quarter was "very compelling," and Cramer added, "They say they're going to do 60% of what they ultimately do. Apple's going higher; there's no doubt in my mind." When Apple reached $143 last week, Cramer suggested selling a bit, and after the selloff yesterday, he recommended picking some up, but resisted being more aggressive, because he was worried about putting investors in a risky situation. While Piper Jaffray and Deutsche Bankhave predicted Apple will reach $200, Cramer says $150 is "above my range of what I am comfortable with, even as I predict that the earnings will grow." In addition, he says he never recommends stocks which are selling at more than twice their growth rate, and this would characterize Apple at $200. Cramer concluded that "$200 is a price I would have to sell. I am struggling with the idea of $165 as a possible price target."
Cramer was struggling with the issue of whether he should raise his $150 target for Apple. The company's quarter was "very compelling," and Cramer added, "They say they're going to do 60% of what they ultimately do. Apple's going higher; there's no doubt in my mind." When Apple reached $143 last week, Cramer suggested selling a bit, and after the selloff yesterday, he recommended picking some up, but resisted being more aggressive, because he was worried about putting investors in a risky situation. While Piper Jaffray and Deutsche Bankhave predicted Apple will reach $200, Cramer says $150 is "above my range of what I am comfortable with, even as I predict that the earnings will grow." In addition, he says he never recommends stocks which are selling at more than twice their growth rate, and this would characterize Apple at $200. Cramer concluded that "$200 is a price I would have to sell. I am struggling with the idea of $165 as a possible price target."
Labels: AAPL, Jim Cramer, Wall Street Confidential
posted by Stock Administrator @ 8:50 AM
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