Jim Cramer discusses accountability on Wall Street, Nvidia's (NVDA) - Get NVIDIA Corporation Report stock split, Apple (AAPL) - Get Apple Inc. (AAPL) Report versus Epic and the markets in the video below:
Too Little Accountability on Wall Street?
"There's far too little accountability on Wall Street, Jim Cramer admitted to his Mad Money viewers Thursday, as he sounded off on issues that have been getting him hot under the collar for the past few weeks," wrote TheStreet's Scott Rutt in his Mad Money recap.
"First, Cramer said there's no accountability with the pundits and analysts that make snap judgments about earnings reports. Case in point, Cisco Systems (CSCO) - Get Report, which reported a solid quarter Wednesday, only to be panned by nitpicking analysts and off-base news reports. After closing lower Wednesday, shares rebounded hard Thursday, proving all of the naysayers completely wrong," he wrote. "There's also no accountability when it comes to cryptocurrencies, Cramer told viewers. Bitcoin was once a scarce commodity, but now it competes with a host of other so-called "currencies," some of which were started as a joke. Making money in crypto is more about luck than the commodity itself."
Where the Blame Lies For Supply Shortages
"How could everyone, every manufacturer, seemingly every retailer be caught short so much of everything? Was everyone just stupid? Did they simply underestimate the comeback of the country and what their order books showed?" wrote Cramer in his Real Money column.
"As I go through the quarterly reports as this earnings season draws to a conclusion, amazingly, I can come up with just one company, Target (TGT) , that had the right inventory and, more importantly, the right amount of the RIGHT inventory, to be considered smart and ready. One company. How could they be so wrong?" Cramer wrote. "Part of what you need to consider is how Target could have been so right. CEO Brian Cornell made sure he was incredibly close to what his store managers even at the lowest level needed. Plus he has an innate sense of optimism about the American consumer that could have been disastrous if the pandemic had not waned and the death toll not be diminished."