Research in Motion’s earnings after Thursday’s bell, Cramer said during Stop Trading!, will be overshadowed by the release of Apple’s iPad overseas tomorrow.
RIM is a heavily shorted stock that “no one really cares about,” Cramer said, which usually translates into a buying opportunity. But not with Apple extending its reach into the communications space. The enterprise business used to be the sole bastion of Research in Motion, but there has been increasing talk of the iPad moving in. That, on top of the popularity of Apple’s iPhone, could cause serious problems for RIM.
So if RIM rises after the earnings call, Cramer recommended taking profits and buying Apple instead. He said AAPL “could really take off” if it crosses through its 52-week high of $279, catalyzing “a short squeeze of incredible proportions.”
Cramer also endorsed Chesapeake Energy , saying it’s “the only natural gas play that I’m recommending right now,” for its “great assets.”
When this story published, Cramer’s charitable trust owned Apple.
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