Apple’s breach of the $300 a share level is merely “a stopover” to $325, Cramer said during Wednesday’s “Stop Trading!.”
The “Mad Money” host thinks that Apple’s popular products—the iPad, iPhone and iPod—control “a level of mindshare here that is astronomical.” So much so that competing products are drowned out the overwhelming demand for all things Apple. Cramer even said that Intel’s push into the tablet space, in order to compete with the iPad, could have a “Zune-like” fate, referring to Microsoft’s failed attempt to beat Apple in the MP3 player market.
And while Apple’s $280 billion market cap may be hard to fathom, the same was said of both Merck and Coca-Cola when they passed General Motors’ valuation. “And yet they just kept going and going,” Cramer said. He thinks Apple will, too.
Analysts recently have had good things to say about Johnson Controls , but for some reason the stock hasn’t moved. Cramer blamed the idle share price on the “delayed reaction we often find to really good news in this market.” There are so many other positive things happening, it’s easy to lose other good news in the mix. But JCI will catch up eventually, he said.
Cramer said a similar trend play out in the rail. CSX on Wednesday reported strong numbers, sending some of its peers higher as well. But Berkshire Hathaway , owner of Burlington Northern, hasn’t taken part in the rally. Cramer thinks Berkshire will do so on Thursday.
“That’s been the way it works,” he said.
Lastly, Cramer praised Freeport-McMoRan CEO Richard Adkerson’s performance, saying FCX should continue to push higher.
“The stock is going back to $120,” Cramer said.
When this story published, Cramer’s charitable trust owned Apple, Coca-Cola and Johnson Controls.
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