When Will Apple Reach $300?
Cramer on Monday started Mad Mail with some homework, revisiting Nanometrics , which Andrew in Texas asked about last week. This semiconductor play is legit, and it has even been taking share from larger rivals. But in the end the company, with its mere $270 million market cap, is just too small for Cramer’s liking. He recommended using the stock’s recent pop on earnings to take profits.
When responding to mail, Cramer told Markus that while Navios Maritime Holdings is “fine,” he’d rather see investors in DryShips or Diana Shipping if that want to play this sector. They are “better run,” he said.
Also, back-to-school season could be the catalyst that sends Apple to Cramer’s $300 price target, he told Robert. This may be a tough stock market right now, pulling Apple lower, but “I … remain committed,” Cramer said.
Bill in Dallas wanted to know why Disney didn’t shoot higher after its quarter, a problem that Cramer chalked up to expectations. The Street wanted to see much more from the entertainment giant. Still, Cramer said “everything was A-OK” about the quarter, so he thinks the stock is a buy. “The stock is not acting right,” he said. “It will eventually.”
Finally, Cramer told Darrell to sell stem-cell company Geron , saying the company has been “trying to make money and trying to get some revenues for years and years and years. It doesn’t have any.”
When this story published, Cramer's charitable trust owned Apple.
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