Jim Cramer: We Need a Bottom in Apple

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer is waiting for analysts to downgrade Apple (AAPL) - Get Report . 'JPMorgan cut the price target to $105 from $125 [on Thursday], but still keeps it as a buy - we need to see these faux buys,' adding that more analyst cuts will push Apple shares to a bottom. Cramer has been saying investors should buy Apple. Cramer also commented on Jabil Circuit (JBL) - Get Report , a manufacturing company and Apple supplier, in terms of what the company's performance foreshadows about iPhone sales.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.