Jim Cramer is way off base on Apple earnings.. AGAIN

Tue, Oct 20, 2009

Finance, News

This isn’t all that surprising really, but take a look at what CNBC talking head Jim Cramer had to say about Apple prior to their earnings announcement yesterday afternoon.

“Your game plan next week is to buy Apple on weakness on Tuesday morning,” Jim Cramer said on Friday’s “Mad Money” TV show. He told viewers that Apple analysts will likely be disappointed with the company’s earnings when they report on Monday, due to a little known problem with iPhone production that might keep numbers lower-than-expected. He said the glitch was taken care of at the end of the third-quarter, which will set up Apple for a solid fourth-quarter. Cramer advised viewers to act quickly and buy Apple on Tuesday before AT&T reports on Thursday because they could follow Apple’s quarter with positive comments about the iPhone that will send Apple shares right back up. “All other data points in next week’s game plan, frankly, dwarfed by this Apple trade,” Cramer said, “and it is a trade I want you in.”

Apple weakness, eh?  Apple shares are currently up over $9 to $198 a share in light of Apple’s record breaking earnings report.

via MadMoney


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1 Comments For This Post

  1. Bob Forsberg Says:

    Take Cramer’s advise on stocks with a grain of salt, He has a much larger show than he has stock sense.

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