Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Speaking after Apple reported a third-quarter earnings beat driven by continued strength in its service stream revenue, which grew 31 percent since last year, Cramer again made the case for the company's budding razor-razorblade model.
"Given the rapid growth of that service stream, this company deserves to sell at a price-to-earnings ratio that is more like a consumer packaged goods company," he said as Apple's stock popped more than 3 percent in after-hours trading.
Cramer lamented the fact that Apple is valued like a "sturdy, cyclical industrial" at just over 17 times next year's earnings estimates. Instead, he said, it should be on par with top consumer goods stocks, which tend to trade at mid-20s multiples.
"In fact, [Apple] should be covered by the same analysts that cover a Procter & Gamble, a Clorox, a PepsiCo, a Colgate, because if it were, I could argue it should be valued at well north of $280 instead of about $200, where it is right now, " the "Mad Money" host said.
He added that if he were running the research department at a top Wall Street firm, he would take Apple off the technology analysts' lists tonight and tell the consumer products researchers to begin covering the stock.
"The organic growth of these so-called steady-eddie companies is nowhere near that of Apple," he said of the consumer packaged goods plays. "The cash return to shareholders is nowhere near that of Apple. The brand loyalty is nowhere near that of Apple. The worldwide pervasiveness is fractional versus Apple."
"That's how I could explain how the stock should have a $300 target, not a $200 target, which I think it'll eclipse tomorrow," he continued.
So as investors digest Apple's earnings win, Cramer told his viewers not to panic if they don't own shares of the iPhone maker.
"No, it is not too late to own Apple," the "Mad Money" host said. "Apple the tech stock, maybe, but Apple the consumer products company? That deserves to trade so much higher. Let's just say own it, don't trade it, and buy it if you don't."
Disclosure: Cramer's charitable trust owns shares of Apple and PepsiCo.