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TheStreet.com TV Recap: Sell Some Apple

07/23/07 - 02:17 PM EDT

TheStreet.com Staff

After Apple's (AAPL - Cramer's Take - Stockpickr) earnings come out on Wednesday, people can buy the stock, but for now they should consider selling some of their position, Jim Cramer said on TheStreet.com TV's Wall St. Confidential Web video Monday.

There have been comments on Stockpickr.com that Cramer's been "ducking" Apple, but this is not true, he said. "I have continually said that Apple is one of those stocks that you must trade around on every data point," Cramer explained. "What I said is that as we got closer to the iPhone launch, you should sell it."

He suggested that because during the time of the iPhone launch, he said there would be people pressuring Apple shares down. Then after there had been some disappointment created, Cramer said people could buy it back.

"I feel the same away about the earnings," he said. "We have now had this first-class ramp into earnings. I don't like ramps into earnings."

The reason market players got a "big run" in Intuitive Surgical (ISRG - Cramer's Take - Stockpickr) and Research In Motion (RIMM - Cramer's Take - Stockpickr) after earnings was because "no one was expecting anything," Cramer said. Meanwhile, everyone is expecting something good with Apple.

Cramer said he believes the call is not going to be about the iPhone, but about the company's earnings, and he doesn't believe there is anything special in Apple's earnings. "The next day [after the earnings] it will get hit and then you can pull the trigger," he said of Apple.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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