Jim Cramer's 'Stop Trading!': Ride Apple
TheStreet.com Staff
05/01/08 - 03:02 PM EDT
Ride
Apple (AAPL Quote - Cramer on AAPL - Stock Picks) until the new iPhone comes out, Jim Cramer said on
CNBC's "Stop Trading!" segment Thursday.
Cramer said of the market, "I'm seeing money coming in for the first time in a long time. ... Maybe it's the $600 checks, maybe it's the income tax refund," he said. He said that he recently spoke with a major retailer. The company said strong sales may be attributable to good weather and impulse buys.
That impulse buying, Cramer said, should help Apple's iPod sales "while we wait for the iPhone." He also said that
MasterCard (MA Quote - Cramer on MA - Stock Picks) faces a bullish outlook on this thesis.
Cramer's Love-Hate Relationship With AAPL, MA |
| |
On the other hand, Cramer cautioned against other plays in the tech sector. He said that financial service companies' balance sheets are so bad that it will be tough for many tech stocks to beat headwinds. "I'm not a believer in tech other than Apple and maybe
Research In Motion (RIMM Quote - Cramer on RIMM - Stock Picks)," he said.
Cramer refused to put a price target on Apple, instead urging investors to sell on the date the iPhone comes out. "I want to ride Apple until that date," he said.
The semiconductor industry, Cramer said, is "not solving the big problems of the day." He said he prefers industrial goods providers such as
Parker Hannifin (PH Quote - Cramer on PH - Stock Picks) and
Eaton (ETN Quote - Cramer on ETN - Stock Picks). He also praised
CSX (CSX Quote - Cramer on CSX - Stock Picks) and
Union Pacific (UNP Quote - Cramer on UNP - Stock Picks), saying "They're trying to ... use less fuel. ... I think that the big American companies ... are trying to solve the big problems for today."
