It could not have got any better for CNBC’s, Mad Money Analyst, Jim Cramer, on his ten year anniversary other than receive a call from the man of the moment Apple Inc.(NASDAQ:AAPL) CEO, Tim Cook. Cramer has interviewed countless CEO’s but a call from Cook was sure to come as a surprise. Especially having rallied behind the stock when it was trading below the $6 mark ten years ago to the current highs of $124 a share.
Cramer is on record saying Apple Inc. (NASDAQ:AAPL) is to be owned rather than traded as it fortunes continue to look brighter at the back of a series of new products yet to be released, starting with Apple Watch and the upcoming Mac Book. “You know my mantra people should own Apple not trade it,” said Mr. Cramer.
Apple Inc. (NASDAQ:AAPL) is slowly transitioning from just being a fun technology company by venturing into other areas of growth. It is set to be a health company on the release of Apple Watch that will act as a health and fitness gadget with apps and capabilities for monitoring people’s health.
Another growth area that Cramer believes Apple Inc. (NASDAQ:AAPL) will gain the most strength in the near future is in the financial systems at the back of Apple Pay that continues to gain traction with many consumers and merchants. It is not a surprise that Apple remains a stock worth owning rather than trading at the back of these two important growth areas.
Cook also shares the same sentiments of not trading the stock but rather owning it. “Our stock price ten years ago, when you started mad money, was less than $6 on split-adjusted basis, and you can bet those people are extremely happy right now,” said Mr. Cook
There is no doubt that Apple pay will be a game changer in the retail sector for Cramer as customers are set to demand it forcing many retailers to integrate it into their systems. The system has already been tapped by 700,000 locations and still growing.
Cramer considers Apple Inc. (NASDAQ:AAPL) to be cheap stock at the current valuations levels at the back of a strong balance sheet that should be of importance in tapping other growth areas going forward.
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