Cramer Quick Take: Apple Is a Hold
NEW YORK (TheStreet) -- Shares of Apple (AAPL) have become a battleground, Jim Cramer told Lindsey Bell at TheStreet.com Monday, but his charitable trust, Action Alerts PLUS, continues to hold the stock.
Cramer said that in a way Apple is like 1999 all over again. There is a lot of information and interest surrounding the market's most-valued company, but at the same time many investors just wanted to be in a hot stock and don't really know why they're buying or selling.That makes for a volatile trade, said Cramer, which is why so many investors are buying on one headline and selling on the next.
In the end, Cramer said, most shareholders of Apple still have huge gains, and with tax rates on the rise next year a percentage of investors are locking in those gains. Cramer said we'll need to wait until 2013 before we can truly assess the company's valuation.But, he added, Apple will have to introduce something spectacular in 2013 to overcome the malaise.
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-- Written by Scott Rutt in Washington.
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