The darned thing just won't quit.
Apple keeps going up quietly, pretty much every single week. While there hasn't been much discussion on it these days, Jim Cramer hasn't forgotten about it.
"Apple's endless, inexorable rise is a huge underpinning of this market, and we should never forget that fact," said the "Mad Money" host.
Sure the market can get sidetracked by the noise maker stocks like Alibaba, its sidekick Yahoo, and marvel at the possibilities of Twitter. It could even be fascinated by the rally of Macy's, despite the cut in its forecast. But Apple is always there, quietly raking in the dough.
According to Cramer, the secret to Apple: You don't trade it, you own it.
Considering the fact that Apple is the largest stock in the world with a $650 billion market cap, and yet it is still up 38.5 percent year-to-date. That kind of move normally happens with a company that is being taken over, a biotech or a smaller capitalization. But the biggest company on Earth? That's epic.
Most of the stocks that Cramer follows that have had tremendous moves like Apple tend to be championed all of the way. Yet, he hasn't heard a peep out of the analysts. They simply have nothing to say! It just can't be traded.
They tried to trade it on Apple Pay, which was supposed to be a bust. That rumor was killed when every major bank and two credit card companies supported it. They tried to trade it on iPhone 6 expectations. That rumor was killed when Apple posted record sales numbers.
They traded it on alleged weak iPad numbers, lagging iTunes sales, Apple TV's lack of promise, and the wearable that was supposed to be a dud, yet no one credible has even seen that happen. All of these trades were shot down by Apple, which has continued to climb.
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And just when you think Apple has come out with the most expensive iteration of an iPhone or an iPad, they just keep selling off in the millions. This just goes to show how unique the company really is. It is also a testament to how much money is out there will spend to buy new products.
The "Mad Money" host thinks that investors can fuss over Alibaba's trading, trash Marissa Mayer and her amazing performance at Yahoo, and tweet love about Twitter. But Cramer is going with Tim Cook and Apple, as slow and steady wins the race. That's his story, and he's sticking to it. Hang on to your Apple, folks.
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