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What an Apple Watch Tells Jim Cramer About Apple

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Jim Cramer learned a lesson about Apple  (AAPL) - Get Apple Inc. Report when he misplaced his Apple Watch the other day.

"Yesterday someone stole my watch. I happened to have walked out to accompany my wife, Lisa, to the grocery store two blocks away and when I came home it wasn't on my arm. At first, I thought I had taken it off for the Lighting Round, but when I checked the dais there was nothing there. I freaked out and figured it had to be between when Lisa handed me the bag of ice she let me carry and when I walked out the door," Cramer wrote in his Real Money column.

"I am not going to spare [Bernstein analyst Toni Sacconaghi] Apple (AAPL) - Get Report because his comments are textbook about why I say own it, don't trade it. Everything that Toni said about Apple is true. Every bit of it. He's a terrific analyst when it comes to the facts and figures of valuation. He's very compelling. Too compelling and that's really the problem. He speaks with great authority about the company, but the stock is NOT the company as anyone who decided to sell it after Toni's answer knows because it was at $119 and it is now at $134," he continued. 

"Should you be angry at Toni if you sold? Absolutely not. You should be angry at yourself for thinking that you could somehow get out and then get back in again six months later. We don't know why Apple has been rallying. We almost never do. But it's precise because of this very clinically dismissive call that I keep saying own it, don't trade it."

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