Battered by general concerns over the economy, all stocks, including AAPL, have take a recent plunge. When that happens, in a strong tech economy, itis time to buy according to Jim Cramer at BloogingStocks on Wednesday.
Mr. Cramer asked the first key question: what to do when things are slowing down? The answer lies in looking at Apple, which isnit slowing down. Every aspect of Appleis business is doing great. The next question is whether Appleis success is sufficient to propel the stock back up and overcome the general malaise of the market.
Mr. Cramer thinks it will, and heis sticking to it. Intel stock is also on his list.
Appleis stock has been all over the map in the last few weeks, reaching over US$200 at one point and dipping below $170 as well, buffeted by the rest of the market, jolted by sub-prime lending fiascos, oil prices, and recession worries. On Wednesday, AAPL closed at just under $180, up $8.15, suggesting that there are many out there who agree with Mr. Cramer on this buying opportunity.
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In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.