Stockpickr
Cramer's Take on the Top 10 Searched Stocks
Stockpickr Staff
04/28/08 - 01:05 PM EDT
Update from 10:28 a.m. EDT
The market had another up week despite a tepid response to weak Microsoft (MSFT Quote - Cramer on MSFT - Stock Picks) guidance as well as renewed concerns over inflation, consumer confidence and of course, oil prices. Despite all of this, investors pushed the market higher on Friday and gave the impression that they were ready to shake off bad news and get long this market.
Most experts would admit that earnings have come in a bit better than expected, which may be the reason behind renewed optimism. We will see if that trend continues while also getting further insight into consumer trends when Kellogg (K Quote - Cramer on K - Stock Picks), Kraft (KFT Quote - Cramer on KFT - Stock Picks) and Procter & Gamble (PG Quote - Cramer on PG - Stock Picks) report earnings this week.
With this in mind, we thought it made sense to take a look at Thursday's Top 10 Most Searched Stocks on TheStreet.com and find out what Jim Cramer's take has recently been on them.
These stocks could be in the news for a number of reasons. Some require immediate attention while others may not. But it never hurts to hear what Cramer (or any of the other professional investors on the site) has to say about them. The key is to gather as much information as you can in order to make the most informed investment decisions you can.
Despite American Express (AXP Quote - Cramer on AXP - Stock Picks) and Goodyear Tire (GT Quote - Cramer on GT - Stock Picks) posting solid earnings-related gains Friday, we'll kick it off today with Apple (AAPL Quote - Cramer on AAPL - Stock Picks).
Cramer noted in his RealMoney blog Friday that we have yet another opportunity to buy some Apple.
He explained:
This stock opened down because we have a number from Microsoft that's not so hot. The one tech company that has nothing to do with Microsoft whatsoever is Apple." Go over the Apple quarter. The iPod was bad. I am not denying it. But we do get a $600 tax rebate check coming in the mail, and it isn't all going to go to Safeway (SWY Quote - Cramer on SWY - Stock Picks) and Exxon Mobil (XOM Quote - Cramer on XOM - Stock Picks). There are a lot of well-off people who get this moronic handout, and they will be buyers of gadgets! The premier gadget in this country is the iPod. AT&T (T Quote - Cramer on T - Stock Picks) tells you how much demand there is for the iPhone, and this is still the crummy first iteration of the iPhone before the price is even cut. The Mac blew me away -- me! And I don't know a bigger bull on that device. Remember, I am not endorsing the quarter as a reason to buy Apple. It didn't give you a reason. I am saying that Microsoft's weakness cannot be related to Apple, no matter what you do. Just too ridiculous. Next year's biz is driving this one, and it is all cycle. The opportunities abound in this market. They just keep giving you chances.
Things are clicking for this company, for everything from wireless and big corporate tickets to Internet and even, yes, get this, wireline, which has picked up. Wireline! I am not kidding, the numbers were really good. And I didn't hear about all of the big disconnects that were supposed to be occurring. So much for that bearish deal. If anything, the uptick in wireless may mean more switching from boring and lower-margined wireline to heavily-tolled wireless with lots of features that cost a fortune. This one should never have been down to $35. Business was just too good, and the misinterpretation -- including this guy -- too bearish, so I believe it can return to where it was before the cracking it received. Or at least to $40."For the more opinions on Thursday's top searched stocks, including Sirius (SIRI Quote - Cramer on SIRI - Stock Picks) and Philip Morris (PM Quote - Cramer on PM - Stock Picks), check out Cramer's Take on Top 10 Most-Searched Stocks From April 25. (Editor's note: At the time of original publication of his posts and shows, Cramer owned Philip Morris for his Action Alerts PLUS charitable trust. And General Electric owns CNBC, for which Cramer is a featured commentator.)