Pause on Apple
"Buying shares of Apple on every dip is no longer a given," Cramer told viewers, as he clarified his stance on this Action Alerts PLUS holding.
Cramer said that in the Steve Jobs days, Apple (AAPL) could mindless be bought on any dips or negative rumors because we always knew that the next big thing was right around the corner. But in today's market, reports of weak tablet sales or slowing iPod demand are giving him pause and are making him listen.
Cramer said that Apple is certainly not a sell, not even close, but it is now a stock that should only be bought when substantially better prices come around. He said that complacency is no longer the right strategy with Apple and investors need to resume doing their homework.
Bullish on Domino'sIn his second "Executive Decision" segment, Cramer once again sat down with Patrick Doyle, president and CEO of Domino's Pizza (DPZ), a stock that's up 99% for the year. Doyle joked that Domino's has no stores in Italy, so the company's shares should not be trading in lock step with the European markets. He said that on a valuation basis, Domino's still trades at a lower multiple than its peers and is a better company. "We're still a great buy," he said. When asked about their new menu, Doyle said that their Artisan pizzas are selling very well and those new items would not have been possible had the company not changed all its recipes a little over a year ago. He said that Domino's listened to its customers, who were not happy, and made a change that both they and Domino's employees all love. Doyle also commented on India, which is the company's fastest growing market. He said Domino's remains committed to expanding its presence in that high-growth country. Finally, when asked about refinancing the company's debt at low interest rates, Doyle said that there is no reason to refinance early. He said the risk premium is starting to fall as the markets stabilize and the company will make a move when the time is right. Cramer remained bullish on Domino's.
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