CNBCis Jim Cramer told viewers they should be buying shares of Apple Inc. during his Stop Trading! segment on the financial network Monday. He cited two specific reasons, the next generation of the iPhone and an unannounced chat product he called "Conversation."
TheStreet.com, which Mr. Cramer cofounded, reported that Mr. Cramer said the market is grudgingly accepting that the iPhone is here to stay and will continue to be a successful product. He added that the iPhone is "huge, and when we get the next iteration ... itis going to be game, set, match."
Mr. Cramer also made his entry into the Apple rumor business by talking about a product called "Conversation," an unannounced Apple chat-oriented product. Be that as it may, he told viewers that it would put Apple in the forefront of instant messaging, and equated its potential to that of the iPod. "The analysts donit see it because the analysts donit use it," he said. "I think this is a gigantic product."
The only mention of Conversation on Appleis Web site is an IRC client of that name made by a company of the same name. This listing is in the Mac Product Guide, and links to a site no longer available, though there is also Home Page Web page for another Conversation IRC client made by Philippe Robin.
The Mac Observer contacted Mr. Robin, who confirmed for us that the Mac Product Guide listing is the same Conversation product he has posted on his .Mac Home Page site. He also confirmed for us that Apple has not been in touch with him, and that he is not porting Conversation to the iPhone. Accordingly, it would appear that his Conversation is not the Conversation referred to by Jim Cramer.
Mr. Cramer is well-known for his successes in the markets, and his trading advice show on CNBC is quite successful. Whether or not he has the inside track on an unannounced product from Apple remains to be seen, however.
Shares in AAPL closed at US$168.16, a gain of 7.12 (+4.42%).
[Update: This article has been updated with additional comments from Philippe Robin. - Editor]
*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.