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Apple Inc. Message Board

  • A Yahoo! User Jan 29, 2013 10:01 AM Flag

    Cramer's exact words

    After hearing about the imminent release of Apple's next generation iPad, CNBC's Jim Cramer was unimpressed.

    "I'm sure this is a good product, but I know I don't need one," he said. "I think it's great they have a new product. GE probably has some new products too."

    "This is an incremental positive in a stock that doesn't need an incremental positive. The stock needs more," he said. "I'm looking for new dividends, new buybacks and new breakout products, this is not it."

    Despite his disappointment in the new iPad, Cramer still thinks Apple stock is still inexpensive, an argument that he's been making since the company's underwhelming earnings last week.

    "Apple is inexpensive, selling at 8.9 times earnings. I can make an investment case for it, but that's not what people want. They want something exciting," he said. "Saying the stock is inexpensive is one thing, trading through {multiples} like Intel and Microsoft is wrong."

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