Political pressure and a low standard Irish tax rate should limit the damage done by the EU's crackdown. U.S. taxes on offshore profits are a bigger problem.
Apple was ordered to pay $14.5 billion in back taxes dating back to 2003. Jim Cramer is sticking with the stock.
Other U.S. multinationals could also face hefty back-tax bills.
The action in the indices is poor; I'll manage positions closely.