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Enough of the Apple Faux Bears
Posted at 6:51 p.m. EDT on Tuesday, April 24
We've got an in-depth analysis of Apple(AAPL) over on Action Alerts PLUS, but I wanted to take a moment out to question the methodology of some of the newfound faux bears in the name.
I call them faux bears because they didn't downgrade it, but they came out with negatives that they could have used to say they got you out of it or they warned you. They want to have their cake and eat it too, and I don't think they deserve any cake.
These are professionals who decided to try to decipher what can't be deciphered and tried to extrapolate what couldn't be extrapolated: the number of iPhones that were sold based on what Verizon(VZ) and AT&T(T) were saying.
This "analysis," of which Jefferies was the key proponent, led you dramatically astray because Apple is much more of an international company that these people realize. Like with Intel(INTC) , where China is the main market, you would do better if you looked at Chinese distributors than you would at Verizon or AT&T.
But these poorly reasoning critics got a lot of the fluff out of the stock and brought in a lot of shorts, so I guess, as my trust is a shareholder, I should be thankful.
From now on the best way to extrapolate Apple sales is to do a worldwide canvas of sales and not to limit the sample.
If you can't do it?
Then shut up.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long AAPL.