Tuesday, September 15, 2009
Cramer touts Apple!!!
And he gives it a new target of $264.
Because of a new accounting change over at FASB.
The story I talked about Saturday morning--"Apple's earnings to skyrocket." Where I gave AAPL a target of 225.
Cramer said if Apple is allowed to recognize all of its true earnings, those earnings will skyrocket from an estimated $9 a share in 2011 to $12 a share. Given these new earnings, Cramer said his new price target for the company is now $264 a share. But wait a minute, doesn't everyone on Wall Street know about these changes? Cramer said surprisingly, no. He said most money managers simply look at the "first call" estimates, and have not taken the time to dissect what this rule means for Apple's earnings. He said FASB is expected to revise these rules in the next few weeks. Cramer said now is the time get in on the stock before Wall Street catches on.
The stock in the after hours closed up another 2 and a half dollars to 177.69, after Cramer's tout.
I just try and give you the stories before the street picks up on them.
So I can at least amuse myself with another As Advertised!!!!
After all, the first Apple Computer sold for $666.66!
And you all know how I feel about Hexakosioihexekontahexaphobi!!!
Posted by Palmoni at 8:08 PM