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Cramer: Too Much Apple Hatred

Stocks in this article: AAPL

Oh, and did the consensus ever bury the iPad tablet as a new product. If you listened to this call you would have thought an iPad sale is nothing but a sale of a Sony Trinitron television or, worse, a Zenith -- and that Zenith TVs are kind of giveaways that don't matter anymore. Between the sales of the iPhone 4 that cannibalize, and the declining tablet sales, you can only surmise that Apple's doing nothing right and is on its last legs.

What's the truth? Well, how about this? The consensus hates Apple too much. It is tired of Apple telling it how it is doing, and it is now telling Apple how the consensus thinks it is doing. There's only one problem: The stock market doesn't seem to care either way. Information technology is not doing as well as Apple says it is, and it is not as bad as the analysts say either. It's just that the balance of power has shifted, and that makes for some pretty depressing reading until new products come out, and the discourse changes to the positive -- and, with it, the longer-term trajectory of the stock. That's unless, of course, the consensus is right and there is no "there" there -- at least not any longer.

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long AAPL.

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