Jim Cramer's 'Stop Trading!': Ride Apple

Hang on to the stock until the new iPhone comes out, Cramer says.
By TheStreet.com Staff ,

Ride Apple (AAPL) - Get Report until the new iPhone comes out, Jim Cramer said on CNBC's "Stop Trading!" segment Thursday.

Cramer said of the market, "I'm seeing money coming in for the first time in a long time. ... Maybe it's the $600 checks, maybe it's the income tax refund," he said. He said that he recently spoke with a major retailer. The company said strong sales may be attributable to good weather and impulse buys.

That impulse buying, Cramer said, should help Apple's iPod sales "while we wait for the iPhone." He also said that

MasterCard

(MA) - Get Report

faces a bullish outlook on this thesis.

Cramer's Love-Hate Relationship With AAPL, MA

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On the other hand, Cramer cautioned against other plays in the tech sector. He said that financial service companies' balance sheets are so bad that it will be tough for many tech stocks to beat headwinds. "I'm not a believer in tech other than Apple and maybe

Research In Motion

(RIMM)

," he said.

Cramer refused to put a price target on Apple, instead urging investors to sell on the date the iPhone comes out. "I want to ride Apple until that date," he said.

The semiconductor industry, Cramer said, is "not solving the big problems of the day." He said he prefers industrial goods providers such as

Parker Hannifin

(PH) - Get Report

and

Eaton

(ETN) - Get Report

. He also praised

CSX

(CSX) - Get Report

and

Union Pacific

(UNP) - Get Report

, saying "They're trying to ... use less fuel. ... I think that the big American companies ... are trying to solve the big problems for today."

At the time of publication, Cramer had no positions in any of the stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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