Patrick Schultz
During the week of July 7, TheStreet.com readers searched for the following 10 stocks more than any others. Each week, I make the Buy, Sell or Hold calls on them below, in the order of their popularity.
1. Apple(AAPL Quote - Cramer on AAPL - Stock Picks): The new iPhone 3G is here, and the buzz is positive. The stock reacted strongly after the company said it had sold 1 million new iPhones over the weekend, more than double analyst expectations. Steve Jobs noted, "iPhone 3G had a stunning opening weekend. ... It took 74 days to sell the first 1 million original iPhones, so the new iPhone 3G is clearly off to a great start around the world." Well put, Steve. -- BUY
2. Chesapeake Energy(CHK Quote - Cramer on CHK - Stock Picks): Time to switch gears on CHK and get onboard. For the past few weeks, I said to wait and be price sensitive to entry points, as I feared more downside ahead. Our caution proved correct as the stock sold off hard and issued a big secondary offering of 25 million shares at $57.25. CHK is the bellwether of the natural gas sector, and the risk/reward is appealing here. -- BUY
3. Wal-Mart(WMT Quote - Cramer on WMT - Stock Picks): Here is the most obvious recession play in the world. When you think of low prices, do you think of anyplace else other than Wal Mart? Maybe Costco(COST Quote - Cramer on COST - Stock Picks), but that is it. WMT is a big beneficiary of our downtrodden economy. -- BUY
4. Freeport McMoRan(FCX Quote - Cramer on FCX - Stock Picks): Don't outthink this one. FCX is the best and cheapest copper play in the stock market. The stock has sold off recently on fears of a global recession bringing down copper demand. I would use it to your advantage and pick up shares on the cheap. FCX is now trading at a ridiculously low P/E ratio of 8.5 times forward consensus estimates of $12.84. I really like it here. -- BUY
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