CRAMER IS NOW SAYING THAT "APPLE MAY HIT $400/SHARE AS DEATH CROSS DAY"
He's the root to those clinging to each leg down in the stock. He started to hype apple at $700, then over-hyped the stock at $600, and now he's back stepping and saying $400 is possibly based on the work of several technicians he respects are pointing to based on the death cross and chart pattern. Honestly, I'm seeing the next leg being the most violent and $300 to $325 is where is see this piece of paper trading relatively soon. And, based on the last time apple traded in this fashion, I fully see the stock attempting to put in a bottom for at least 6 months so at $300 to $325, the stock should begin to base for several months. Hopefully next year around September, and after the tech wipeout summer, apple may once again be interesting as an "investment". At this point it's a great writeoff for gains, if any, on your tax return for 2012. I suggest you take the loss while you have it and before December 27th or you will not be able to pocket it for tax purposes.
In 6 months aapl will have ~$150/share in cash and well over $50 in eps. so you honestly think a 6 ttm p/e (3 ex cash) while generating 5-15 billion every 3 months and will have ~50% of their mrkt cap in cash?
Cramer is an idiot. Everyone on CNBC talks AAPL up and then take their profit, then they talk it down. It's a money game they play. What other stock do they "panic" over when it goes down 1/2 of 1%? What is going on is profit taking before the tax rates go up next year, combined with short-term trading. I'm below water on my AAPL, but I ain't gonna worry. And if it goes down to $300, I will buy as much as I can. In fact, if it gets to $505 again, I'll buy another 100 shares.