Jim Cramer Blog

Scale out of Apple AAPL Jim Cramer said on CNBC's "Stop Trading!" segment Monday.
Cramer told investors to sell as Apple CEO Steve Jobs discussed the next-generation iPhone at the Worldwide Developer Conference. The phone has faster data downloads and may outpace devices from Apple rivals Palm PALM and Research In Motion RIMM.
Cramer called the news "marginally positive," saying, "You wanted to sell most of your position into this launch because of the hoopla." He said that he would have changed this strategy if the new phone had a camera that could simulate Apple's iChat software for its Mac computers. "I'm not changing my view," he said.
"I think Apple has been a great trade in a really bad market," Cramer said. However, "the odds do not favor another run on top of this."
As for RIM's prospects, Cramer said he doesn't want to sell the stock. "I still think that BlackBerry is a terrific name." He said he would be a buyer of RIM shares at around $120.
Cramer ended the segment by saying that debt downgrades in the homebuilders sector spell more pain for the space. He said that regional banks Washington Mutual (WM) and National City (NCC) also face similar difficulties. "When I see the homebuilders being downgraded, I know there's more pain ahead," he said.
Published By TheStreet.com

Labels: Apple Inc., Blackberry, iChat, iPhone, Jim Cramer, NCC, PALM, RIMM, Steve Jobs, Stop Trading, WM

Qualcomm Inc. reiterated Monday that it was not optimistic about renewing a licensing agreement with Nokia Corp., its largest licensee, before it expires in April.
The remarks by Qualcomm President Steve Altman to investors and analysts in London came less than two weeks after the wireless technology company said it was making little progress in talks with Nokia, the world's largest handset maker.
Qualcomm shares have suffered this year as rivals intensified efforts to undermine the company's vaunted patent portfolio. Qualcomm is a pioneer of CDMA, or code division multiple access, technology, which is used by many major wireless carriers, including Verizon Wireless and Sprint Nextel Corp. in the United States.
Also on Monday, Qualcomm said that it will supply Motorola Inc. with chips for phones based on UMTS, or Universal Mobile Telecommunications System, standard. Qualcomm already supplies Motorola with chips for CDMA-based phones.
Source: AP

Labels: Blackberry, Motorola, QCOM, Qualcomm Inc., UMTS