CNBC’s Jim Cramer:
Whatever product that is coming out in September is a clear loser. We haven’t seen it yet, but it is a loser… Apple is becoming the JC Penney of tech. I think that there is a sense that the company is in a tailspin, and it doesn’t seem to matter what they do right now.
Hmmm. Let’s see. JCPenney is losing money hand over fist, and customers stay away from their stores. Apple is making money hand over fist, and stores are crowded. How is it that Apple is like JCPenney?
Cramer’s advice was to buy Apple stock all the way to $700 a share. When it hit $430 he issued a sell warning. Maybe Cramer is the ‘JCPenney’ of business reporting.