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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Apple (AAPL) - Get Apple Inc. (AAPL) Report : On the heels of a decision that could cost Apple $14 billion in back taxes, Cramer offered up his comments on this Action Alerts PLUS holding. He said that while Apple's chart remains terrible, he continues to be bullish on the company.
Sure, the tax bill, if not overturned, would ding the company's $200+ billion cash hoard. And yes, it appears, at least thus far, that the new iPhone due out next month may be uninspiring. But while Apple's downward chart may become self-fulfilling, Cramer asked if that really means the company's best days are behind it?
If investors can time the bottom and scale back in at lower prices, "be my guest," Cramer said. But for the rest of us, he continues to recommend investors just own the company for the long term. Apple still makes the best products and still has a growing service business that cannot be ignored, he said. That's worth sticking around to see what's next.
Chipotle Mexican Grill (CMG) - Get Chipotle Mexican Grill, Inc. Report : In his "Off the Charts" segment, Cramer checked in with colleague Robert Moreno over the chart of Chipotle Mexican Grill (CMG) - Get Chipotle Mexican Grill, Inc. Report , now that a full year has past since the company's spate of health scares that send shares plunging from $750 to as low as $395 a share.
Moreno liked Chipotle's weekly chart, noting that the stock's floor of support at $395 has held and shares appear to be poised to break above their downtrend line that has been acting as a ceiling of resistance. With the MACD oscillator signaling a bullish divergence, Moreno felt that if shares hold above $420 it would be huge for the stock.
Moreno was further bolstered by Chipotle's relative strength indicator, which has been moving up rapidly in recent weeks, and the vortex indicator, which has just flashed a bullish crossover.
How high could Chipotle run? Moreno felt $600 a share would be possible over the longer term once shares break free from their downtrend. Cramer concurred, saying that in other health scares most restaurant stocks begin to recover between 12 to 18 months after the incident has passed.
Taser International (TASR) : In an exclusive interview, Cramer spoke with Rick Smith, co-founder and CEO of Taser, makers of evidence capture and digital evidence management tools as well as its namesake, non-lethal stun guns. Shares of Taser are up 70% for 2016.
Smith explained Axon is the name of Taser's network of connected camera and the software that allows those videos to be shared with police departments, prosecutors and the media when needed. He said there's undisputed momentum in this area, with police departments seeing the need for evidence capture in the field as being inevitable.
Smith said Axon has a full line of cameras, including those for the body, head and car. On the back end, Axon includes evidence.com, which is solving the big data issues of cataloging, storing and retrieving data while abiding by evidence laws.
Smith sees Axon as an enterprise platform with years of growth ahead. He said the business could grow five to 10 times larger, and Taser currently has 85% marketshare amongst large police departments.
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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.