Jim Cramer, a financial analyst and television personality known for being neither competent nor affable, has cast a negative spin on Apple’s current state of affairs. Cramer says now that Steve Jobs has passed on, things aren’t so bright.
[quote]I want to be able to say that the plans put in place by Steve Jobs, perhaps America’s greatest industrialist, are so amazing that you can back up the truck in every hiccup for years to come… [but] I can’t dismiss these minute Apple data-points as irrelevant anymore. These days, it would just be too glib.[/quote]
Cramer hosts a show called “Mad Money” in which he offers financial advice with a loud, annoying voice and a wide range of gimmicky special effects. Don’t expect all the gimmickry to gift wrap solid investment tips, however; I could feed my cat a box of Scrabble tiles and she’d shit out better financial advice than Cramer will typically offer.
[quote]Just recognize that complacency should never be a strategy when it comes to stocks, even the terrific stock that is Apple, and that there may come a time where it should not be bought until it comes down appreciably from where it sits right now.[/quote]
This would resonate more if I haven’t been hearing this since 1991 when I got my first Mac. When times were hard, analysts said Apple was a step away from death. When Jobs returned, analysts said he was going to ruin everything. When the iMac was a hot seller, analysts said Apple had nothing to follow it with. When the iPod was released, analysts said it was too little, too late. When the iPhone was announced, analysts said they would flop in the phone market. When the iPad was announced, analysts said Apple finally signed their own death warrant. And now the latest doomsday scenario for Apple: The death of Steve Jobs means inarguable demise for Apple.
I don’t buy it. Remember: This is the guy who told us to sell Stark Industries shares.