Cramer called Netflix “the game-changer for entertainment,” a business that has threatened cable as well as Blockbuster, which filed for bankruptcy on Thursday. And “that’s why I think that the stock keeps going up,” he said.
Despite news that Verizon isn’t ready yet to incorporate Apple’s iPhone into its network, shares of AAPL continue to rise. Cramer said the move was driven by iPad sales worldwide called Apple a “China play.” He also pointed out that Steve Jobs’ company has surpassed PetroChina as the second-largest company in the world in terms of market cap.
“I think it could be the largest,” Cramer said, overtaking even Exxon Mobil.
Lastly, while PetrosBras may have softened the price of its equity offering, taking place Thursday evening, that’s not reason enough to buy the stock.
“You don’t want this oil company long term,” Cramer said, citing the PetroBras’ government exposure and dividend as concerns. “I’m not a huge believer in buying oil companies with low yields.”
When this story published, Cramer's charitable trust owned Apple.
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