The host of CNBC's Mad Money makes it his first pick in the "ultimate growth portfolio"
It's easy to forget, amid the boo-yahs, the bluster and the silly sound effects, that Jim Cramer (magna cum laude, Harvard 1977) is smarter than the average talking head on CNBC.
And having famously explained how, as a hedge fund manager, he could manipulate Apple's (AAPL) share price by spreading false iPhone rumors, he redeemed himself somewhat in the eyes of Apple investors Monday by spending nearly four minutes running through the 10 criteria by which the stock became his No. 1 pick in what he calls "the ultimate growth portfolio for 2012 and beyond."
The video and transcript are available here. The Apple segment begins at the 4:20 mark, but the first four minutes aren't bad either.
We've posted a vodpod copy of the video below the fold.
Betting on a stock this volatile on a day like this is an exceedingly dangerous game
Trading in Apple (AAPL) was halted on July 19 last year, just before the company released its third quarter earnings report. When trading re-opened, the stock immediately jumped nearly $23 (6%). On October 18, when Apple released its fourth quarter earnings, the stock fell more than $33 (8%) in after-hours trading.
So as you can imagine, there's MOREPhilip Elmer-DeWitt - Jan 24, 2012 6:02 AM ET
When the rest of the market is tanking, the company's shares offer a relatively safe haven
On Monday, when the Dow opened down $250, Apple (AAPL) rose $11.13 (2.78%) to close at a new record $411.63. On Tuesday, Apple opened at $415.35 and hit $422.86 shortly after noon.
UPDATE: Apple closed Tuesday nearly where it started, at $413.45, up $1.82 (.44%) for the day.
To put Monday's close in perspective:
Apple shares were up MOREPhilip Elmer-DeWitt - Sep 20, 2011 7:33 AM ET
Apple (AAPL) shares rose 1.3% in after-hours trading Tuesday after Mad Money host -- and confessed Apple stock manipulator -- Jim Cramer raised his price target from $200 a share to $264.
Shares opened Wednesday at $178, up 1.6% from Tuesday's close, and by 12:25 p.m. were trading at $182.72 on high volume. The stock ended the day at $181.87, up $6.71 (3.83%), its strongest close since June 2008.
Cramer had argued MOREPhilip Elmer-DeWitt - Sep 16, 2009 10:20 AM ET
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