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Scale out of Apple (AAPL Quote) Jim Cramer said on CNBC's "Stop Trading!" segment Monday.
Cramer told investors to sell as Apple CEO Steve Jobs discussed the next-generation iPhone at the Worldwide Developer Conference. The phone has faster data downloads and may outpace devices from Apple rivals Palm (PALM Quote) and Research In Motion (RIMM Quote).
Cramer called the news "marginally positive," saying, "You wanted to sell most of your position into this launch because of the hoopla." He said that he would have changed this strategy if the new phone had a camera that could simulate Apple's iChat software for its Mac computers. "I'm not changing my view," he said.
Cramer: Make a Bushel Off New iPhone |
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