While “Mad Money” host Jim Cramer would love an Apple dividend, he said he certainly isn’t going to hold the company’s “feet to the fire” for not delivering one.
“How come I don’t care about a dividend with Apple? ... Because I accept the dichotomy between a growth stock and a value stock,” he said.
He thinks Apple , a growth stock, has terrific earnings momentum and thinks the tech giant can earn $55 a share for its fiscal year 2012.
Cramer also doesn’t care that Apple hasn’t used any of its cash for a stock buyback.
“Apple doesn’t need to augment its pure earnings per share by changing the divisor. That’s just financial engineering, unless the discount is so palpable that you must act,” he said. "I don't think that's the case here."
Apple has given shareholders incredible returns—an “astounding” 30 percent year-to-date.
“You want a growth machine like Apple to go higher? Then they just need to keep doing exactly what they’ve been doing because it is working,” Cramer said. “Enough said.”
When this story was published, Cramer's charitable trust owned Apple.
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