Two 'Story' Stocks That Rivet: AAPL, X

Apple Computer's (AAPL - commentary - Cramer's Take) having a terrific finish to the quarter, and it may be time to ask "has it moved too much too soon?"

Here's my take: Apple's one of the few tech stories that actually has a story. Soon we will get the 3G phone, and I think it will be a big talk item -- not as big as the first iPhone run-up but a catalyst to drive the stock higher.

Here's the problem though. If you remember the last run-up, what happens is that the stock goes higher and higher until the news is out and then it sells off badly as retail comes in and buys it.

Given that I do not expect either a downgrade or a shortfall (iMac sales are too strong), I sense that the trade will continue until the announcement but then, once again, it will be time to exit the stock.

Random Musings: U.S. Steel (X - commentary - Cramer's Take) is all over the place, but I think it is still an up stock despite Chuck Bradford's short-term concerns expressed this morning on CNBC.

At the time of publication, Cramer had no positions in stocks mentioned.

Again, U.S. Steel is one of the few "story" stocks that has legs here because estimates are too low. I earlier commented that the specialist was weak in the stock, but that's not fair, he is doing his best and providing tons of liquidity. I apologize to him and will apologize on air this evening for what I said. It's just a real hard trader, and he's doing an excellent job.

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