We recently published 12 Stocks on Jim Cramer’s Radar. Apple Inc. (NASDAQ:AAPL) is one of the stocks on Jim Cramer’s radar.
Consumer electronics giant Apple Inc. (NASDAQ:AAPL) is one of Jim Cramer’s favorite stocks. The CNBC TV host continues to hold the opinion that viewers and listeners should own the shares and not trade them. Investment bank Goldman Sachs discussed Apple Inc. (NASDAQ:AAPL) in January. It reiterated a Buy rating and a $330 share price target on the firm. The bank discussed the firm’s App Store performance in its coverage. It outlined that the App Store spending trends were improving as spending grew by 7% in January to accelerate by one percentage point over December’s 6% growth. Goldman added that the App Store growth should contribute meaningfully to Apple Inc. (NASDAQ:AAPL)’s Services business. Along with Goldman Sachs, Bernstein also praised the firm. It reiterated an Outperform rating and a $325 share price target. Bernstein cited Apple Inc. (NASDAQ:AAPL)’s record iPhone revenue and optimistic growth guidance to point out that the firm was correctly navigating the turmoil in the memory industry. Memory was also on Cramer’s mind:
“I would not want to challenge Apple with these guys having, being tied up together. This is big, this is foundational. . .
“But I will say, when I look, at what happened with Qualcomm which is you know not that friendly with Qualcomm, I come back and say Apple should be up again. Because Apple may have the lower cost phone. Qualcomm is Android, it doesn’t sound like they have this lower cost phone anymore. China is going more and more towards Apple. It’s really amazing. . .”
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Disclosure: None. This article is originally published at Insider Monkey.
