Jim Cramer bullish on Apple: ‘AAPL is going to break out by end of year’
Friday, March 14, 2008 - 08:50 AM EST Jim Cramer was bullish on Apple during his Mad Money TV program on Thursday, March 13.During the "Lightning Round" block of the program, Cramer said of Apple (AAPL):
You've got to maybe take 10 points of pain, and get 70 points of gain. I think AAPL is going to break out by the end of the year.
More coverage of yesterday's Mad Money "Lightning Round" here.
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This feels reminiscent of 2003/04, I think it was. Apple had really started to grow and the worry-warts started saying it couldn't be possible for Apple to continue to hit on all cylinders and surely a strong competitor would emerge to dethrone the iPod, etc.... Then, when it became clear that Apple would continue to grow and kick butt, the stock followed and took off again.
I also believe the stock will eventually take off. The factors that brought it down are not issue with the company itself. Apple continues to get stronger, and they will continue to have a few important tricks up their sleeves.
Full steam ahead!