360 Degrees of Apple

I find all the other movie alternatives clunky. I like the one device, one clicker thing. I like the fact that everything is so easy to use and I don't need some guy coming to my house to program a complicated remote. I expect it will be as easy as plugging my iPod into my Bose unit after I download music.

It's the ease. It's how much fun it all is. It's how you can't live without it. Which is why, in reality, Apple's going higher.

The following is an excerpt from a column by Cramer titled "Hot Apple Has Fund Appeal Baked In" that was published on RealMoney on Sept. 8 at 10:32 a.m. EDT

I remain adamant that Apple may be one of those companies that has become, overnight, the new de facto standard. It is the must-own name for tech funds and generalist funds alike.

Some of it is Dell's(DELL Quote) issues, some of it the exciting new products, but most of it is a sense that this is the back-to-school and holiday-shopping-season stock.

Usually I would say, "This one can't be bought without a pullback." But that's not the case with Apple. When we get one of these moves where there's a lack of safe alternatives in a sector, you get one of those situations where there are multiple buyers who don't even wait until the market's open to buy. No other stock is anointed like this one, not even Cisco(CSCO Quote).

Apple's going higher.

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

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Wait for a Pullback, by Dan Fitzpatrick

Apple announced Tuesday that it would be going into the online movie business. This highly anticipated event was a textbook "buy on the rumor, sell on the news" trade, yet the stock hung in there. That is constructive because it demonstrates persistent demand for the stock, despite the recent advance. You'll see on the daily chart below that Apple is now right around the same level it was at in May, when the stock peaked and began selling off.

In my mind, the healthiest thing this stock could do would be to retest the $70 breakout area for several days. That would allow for some profit-taking without damaging the technical picture.

If you're already long, consider placing a stop just below $70. And if you're waiting to buy, the safest bet is to wait for that retest so you can place a fairly tight stop. But if Apple instead moves above $74, just remember that you are arriving to the party a bit late.

At the time of publication, Fitzpatrick was long Apple.