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NEW YORK (
) -- "This is a crazy, ridiculous time in the markets," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.
He said it's a time where the fundamentals of individual companies don't seem to matter, and stock prices trade on the whims of China, Greece and the price of oil,
For a company like
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS, Cramer said it makes no sense that the stock rallied today, on positive market news, and not over the last few days, when there was plenty of Apple news.
Cramer said the markets ignored stories of how Apple may sell TV shows on iTunes for just 99 cents, how the company now commands 25% of the smartphone market, and how Apple and its growing base of high profile stores have made it the fifth largest electronics retailer in the country. Instead, the stock languished. But today, on a rally in copper and positive news from Greece, Apple soared, he said.
Cramer said Apple is not a cyclical stock, and doesn't need worldwide growth to prosper. He said investors should have been using the down days to buy Apple, on the hopes that the company's fundamentals will once again matter.
Cramer said he believes the U.S. economy is growing, and by years' end will be creating jobs, albeit slowly. He said it's silly that all stocks, regardless of their fundamentals, are trading in lock step with global economic news. Apple, he said, has fabulous fundamentals, and deserves to be going up. So when the markets aren't paying attention, investors need to be buying.
Hang Up on Garmin
In the Thursday "Sell Block" segment, Cramer took aim at personal navigation giant
, a stock who's business, he said, is on life support.
Cramer said Garmin may be the first casualty of the Mobile Internet Tsunami, as more and more consumers are opting for built-in navigation on their smart phones, rather than stand-alone devices.
Back in 2005, Garmin's stock exploded, as personal navigation devices for cars became all the rage. After impressive growth between 52% and 62% a year, personal navigation devices now account for a whopping 73% of Garmin's overall business.
But Cramer said stand-alone navigation has now run its course, and Garmin's future earnings power have been critically wounded. Remember the Palm Pilot? Cramer said personal digital assistants were also once all the rage, but newer technology has simply made them obsolete.
Cramer said Garmin's once proprietary technology has now become a commodity, with cell-phone maker
announcing that it'll include free navigation on all its smart phones. "Why pay extra?" asked Cramer.
By removing personal navigation from Garmin's business model, Cramer estimated Garmin's true value to be around $26 a share, a full 20% lower than where it trades today. He said the company's long term story is simply unacceptable, and investors need to sell, sell, sell.
Cramer turned the spotlight on pest control giant
as the next stock in his series of outstanding companies raising their dividends in a weak market.
Investors may know Rollins as Orkin, a brand that commands 20% market share in the U.S. pest control market. Rollins boosted its dividend 28% last week, from 7 cents a share to 9 cents, and currently yields 1.8%.
Cramer said Rollins is like an ATM machine that generates cash, with 40% of its business in commercial pest control, 40% in residential and the remaining 20% focuses on termite control. The company's recent acquisition gives it new relationships with home builders, allowing it to get in on the ground floor with home owners.
Cramer said there's a lot to like at Rollins. The company is improving customer retention and sales rates, and is expanding overseas with 14 franchises so far. Rollins trades at just one point off its 52-week high, so Cramer suggested waiting for a pullback before jumping in. He said Rollins is definitely a stock worth looking into.
Cramer followed up on
L-1 Identity Solutions
( ID), a stock which he put in the penalty box in January. Cramer said today the company redeemed itself as it began to look for "strategic alternatives" to unlock its true value.
Cramer also gave the nod to
, saying that that company's dip is a buying opportunity.
, however, is still on hold, said Cramer, as the company did not mention if federal stimulus money has yet hit the company.
Cramer told a final viewer that he's worried about
, whose flash video player is coming under attack by Apple and others.
Cramer was bullish on
He was bearish on
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Apple.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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