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Apple Hits $100 but Jim Cramer Says This is a Transition Quarter for Apple


Apple stock hit an all-time high of $100 but TheStreet's Jim Cramer says this is simply a transition quarter for the company. The electronics giant is expected to unveil the iPhone 6 next month with a release date of September 9. Customers are also awaiting the widely speculated iWatch. The iPhone accounts for a sizable part of Apple's total revenue and is key to the company's overall growth. Cramer says the quarter is going to be fine and instead of trying to guess where the stock is going after topping $100, investors should look to the long term. Cramer says just own Apple and stop trading it.