Jim Cramer Stays Against Apple (AAPL)
January 14, 2009 by Douglas A. McIntyre
On tonight’s MAD MONEY on CNBC, Jim Cramer briefly addressed Apple Inc. (NASDAQ: AAPL). He said he has been against the company because of Steve Jobs’ health concerns. Today’s actions apparently are not even creating a "sell the rumor, and buy the news" trade mentality. That is odd unless you consider the state of the earnings and growth problems all coming front and center over the last 30 to 90 days. Cramer essentislly said, "I repeat, I don’t want you in Apple."
We have been waiting for analysts’ comments now that Apple came cleanabout the health of Steve Jobs. We’d expect a slew of analystcalls on the stock bytomorrow morning.
If you want to know just who Tim Cook is, we gave a brief backgrounderon him when we discussed the implications of the "temporary" Jobs decision to step down as CEO.
Unfortunately, there is going to be a credibility issue for the nearterm now that the company has come out in support of Steve Jobs when itis obvious that there was something more at issue than a hormoneimbalance.
Jon C. Ogg
January 14, 2009
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