Stories of Apple’s alleged sales slowdowns, like Monday’s report from the Wall Street Journal, are getting “repetitive” even as many investors treat them as new and crippling revelations, Cramer said.
“This market can’t stabilize until Apple stabilizes,” said “Mad Money” host, whose charitable trust owns Apple shares. He added that chart specialists have been saying that “it’s all over but the crying” for the iPhone maker’s stock.
“My view? Apple is a long-term hold, with its huge installed base giving the company’s service revenue stream a lot of room to grow, which is why you own it [and] don’t trade it,” he said. “However, I can’t blame any big accounts for dumping it and, at least short term, I wouldn’t expect the stock to bottom until some of the analysts start downgrading it.”
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