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Jim Cramer's Stop Trading! Wait on Apple

Stock quotes in this article: AEOS , NKE  

Apple (AAPL Quote) is a great company, but Jim Cramer said he needs to know more about the pricing of the new iPhone before he'd buy the stock up 7% Tuesday.

Cramer said on CNBC's "Stop Trading!" segment that Steve Jobs' tech juggernaut remains one of his top growth stock picks. But he said reports that an 8-gigabyte iPhone will cost $599 with a two-year Cingular contract tell him he "needs to know more" before buying Apple on the heels of Tuesday's $6.11 gain to $91.58.

Cramer says a look at inventory data, courtesy of value investor Bob Olstein, shows that investors would be wise to buy Nike (NKE Quote) and American Eagle (AEOS Quote) while selling K-Swiss (KSWS Quote) and Abercrombie (ANF Quote). ...

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