NEW YORK ( TheStreet) -- Apple (AAPL) revealed its new products earlier this week and Wall Street isn't taking much notice. The stock fell 5% on Wednesday and is nearly flat in Thursday morning trading.
Stephanie Link, co-manager of the Action Alerts PLUS portfolio, told TheStreet's Jim Cramer that the product story was lackluster and that CEO Tim Cook has had plenty of time to prove that he is a revolutionary leader.
Instead, she said he has been only evolutionary.
Although the iPhone 5S will likely do well, many had expected that the iPhone 5C was made to compete in emerging markets. But with such a steep price tag, that doesn't seem to be the case, Link added.Cramer compared Apple to Microsoft (MSFT), but with a bit more upside. He added that Cook was like Microsoft CEO Steve Ballmer, who lacks innovation. He concluded that Apple is not trying to win over market share from competitors like Samsung and the stock will remain a small position in the Action Alerts PLUS portfolio. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts