So what does he want this to trade at a 11 PE? They will earn $24 next year, and will have approximately $75 Billion in cash on the balance sheet or $75 per share... Back down the cash and at $285 this thing would be trading at around a 8 PE... $285-$75 cash = $210/$24 EPS = 8.75... What a joke this guy is.
These traders can't be expected to know everything about every company, and so probably base their commentary on whatever limited info they do know. The only difference between Cramer's Lightning Round is the FM traders sit behind a news-like desk, while anyone watching Cramer with his sound effects and antics ought to know not to take him too seriously.
Adami's commentary on ANF this year has also been way off the mark for anyone paying attention.
at some point someone needs to call him on this one....no trader is always right but this guy continues to fight the tape on this one without even addressing the fundamentals of this monster company...and the revenue that keeps growing and even the bright forcast for 2011...
The tragic truth is that guy adami serves Up his opinions with simple surface knowledge of the real facts of the deep technical foundation of the apple success ... He spouts snip its of simple Shizuoka like " no company can go up forever " as the justification for his opinion. He was not always so self serving and cavalier ... We dervise his real talent .... Some thing happened in 1st half 2009 ... That's when he broke ... To bad and sad
Where did you get $24 for 2011, Cramer? Margins will be far less than 2010. $16-$18 would be at the top end for AAPL in 2011, in my opinion. The money they have means nothing if they don't use it to grow with some M&A or give a $3 dividend every quarter. AAPL makes one phone a year and that will not be good enough to compete with what is on the market now. Take a video on an Iphone and a video on an Android phone, now play it on a big screen, not even close, Android wins hands down.
Read a book on an Ipad or a Kindle,,Kindle wins hands down. Technology is moving very fast so a once a year product will not compete in the future when things change every month.
Exactly. This guy (no pun intended) has broken the first rule of investing: Don't get emotionally attached to viewpoint regardless of the facts. Adummy has never been held accountable on Fast Money for his consistently wrong views on AAPL. Yet, CNBC continues to put this fool on the air. By doing so, and by not requiring their other panelists to account for incorrect advice, they undermine their own credibility.
As others have pointed out -- if anyone had followed dummy's calls on AAPL they would have gone broke or at least been very badly burned.